| Date: |
18-04-2016 |
| Subject: |
Rupee trades lower at 66.68 against US dollar |
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Mumbai: The Indian rupee on Monday was trading little changed against the US dollar in opening trade.
The rupee opened at 66.64 a dollar. At 9.10am, the home currency was trading at 66.68, down 0.04% from its previous close of 66.65.
The government will issue wholesale price inflation data (WPI) on Monday after 12pm. According to Bloomberg estimates, WPI will be at -0.7% in March as compared to -0.91% February.
India’s benchmark Sensex rose 0.75% or 191.20 points to 25,833.16. So far this year, Sensex fell 1.5%.
The stock market will remain closed on Tuesday for Mahavir Jayanti.
India’s 10-year bond yield was trading at 7.432% as compared with its Wednesday’s close of 7.435%.
So far this year, the rupee weakened 0.74%, while foreign institutional investors bought $1.14 billion from local equity and sold $547.80 million in debt markets.
Asian currencies were trading lower. Malaysian ringgit was down 0.89%, South Korean won 0.39%, Taiwan dollar 0.18%, Indonesian rupiah 0.13%, China renminbi 0.09%, China offshore 0.08% and Philippines peso fell 0.07%. However, Japanese yen was up 0.75%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.734, up 0.04% from its previous close of 94.696.
Crude oil prices tumbled some 5% early Monday after a meeting by major producers in Qatar fell apart on Sunday, leaving the world awash with unwanted fuel. International benchmark Brent crude futures were trading at $40.86 per barrel, down 5.2% since their last settlement, Reuters reported.
Tumbling crude oil futures dragged down Asian shares on Monday after producers’ weekend talks failed to agree a plan to curb the global supply glut, and Tokyo shares dropped as investors assessed the impact of a devastating earthquake in south-western Japan, the report added.
Source : livemint.com
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