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Rupee trades marginally weaker against US dollar

LiveMint logoLiveMint 05-05-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee was trading marginally weaker against the US dollar, tracking losses in its Asian peers before the release of US jobs data due later on Friday.

The rupee opened at 64.23 a dollar. At 9.15am, the rupee was trading at 64.25 a dollar, down 0.10% from its Thursday’s close of 64.17.

Traders are also cautious as US Federal Reserve chair Janet Yellen and at least five other central bank officials are scheduled to speak on Friday and ahead of the French presidential election on Sunday.

The benchmark Sensex index fell 0.08% or 23.13 points to 30,103.08. So far this year, it has risen 13.1%.

So far this year, the rupee has gained 5.8%, while foreign investors bought $6.29 billion and $7.61 billion in local equity and debt markets, respectively.

The 10-year bond yield was trading at 6.949% compared to its previous close of 6.968%. Bond yields and prices move in opposite directions.

Asian currencies were trading lower. South Korean won was down 0.38%, Malaysian ringgit 0.19%, Japanese yen 0.09%, Indonesian rupiah 0.07%, China offshore 0.06% and Taiwan dollar 0.03%. However, Thai baht was up 0.07%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 98.827, up 0.03% from its previous close of 98.797.

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