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Rupee weakens marginally against US dollar

LiveMint logoLiveMint 20-07-2017 Ravindra N. Sonavane

Mumbai: The Indian rupee on Thursday weakened marginally against the US dollar, following losses in its Asian peers.

The rupee opened at 64.34 a dollar. At 9.12am, the rupee was trading at 64.35 a dollar, down 0.1% from its Wednesday’s close of 64.28.

The 10-year bond yield was at 6.451%, compared to its previous close of 6.449%. Bond yields and prices move in opposite directions. The benchmark Sensex index rose 0.59% or 188.73 points to 32,144.08. So far this year, it has risen 20%.

So far this year, the rupee has gained 5.58%, while foreign investors bought $8.56 billion and $16.48 billion in local equity and debt markets, respectively.

Asian currencies were trading lower. Traders are also cautious ahead of next week’s US Federal Reserve meeting. South Korean won was down 0.43%, China renminbi 0.15%, China offshore 0.1%, Taiwan dollar 0.09%, Thai baht 0.08%, Philippines peso 0.07%, Malaysian ringgit 0.06% and Singapore dollar 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.819, up 0.05% from its previous close of 94.779.

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