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Rupee weakens marginally against US dollar on Asian cues

LiveMint logoLiveMint 28-06-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Wednesday weakened marginally against the US dollar tracking losses in its Asian peers.

The rupee opened at 64.56 a dollar. At 9.15am, the rupee was trading at 64.57 a dollar, down 0.05% from its Tuesday’s close of 64.54.

The 10-year bond yield was at 6.463% compared to its previous close of 6.463%. Bond yields and prices move in opposite directions.

The benchmark Sensex index rose 0.36% or 112.65 points to 31,070.90. So far this year, it has risen 16.3%.

So far this year, the rupee has gained 5.25%, while foreign investors bought $8.31 billion and $14.05 billion in local equity and debt markets, respectively.

Asian currencies were trading lower after US Federal Reserve chair Janet Yellen commented that certain asset valuations were “somewhat rich”.

South Korean won was down 0.53%, Philippines peso 0.48%, Taiwan dollar 0.3%, Indonesian rupiah 0.2%, Malaysian ringgit 0.16% and Thai baht 0.05%. However, Japanese yen was up 0.22%, China offshore 0.18%, China renminbi 0.16% and Singapore dollar 0.09%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.364, down 0.03% from its previous close of 96.394.

Dollar weakened after the US Senate’s move to delay voting on a healthcare reform bill rekindled worries on the timeline for President Donald Trump’s business-friendly policies.

Reuters contributed this story-

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