| Date: |
09-03-2016 |
| Subject: |
Rupee trades lower at 67.48 against US dollar |
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Mumbai: The Indian rupee on Wednesday weakened against the US dollar, tracking the losses in the local equity and Asian currencies market.
At 9.09am, the home currency was trading at 67.48, down 0.19% from its previous close of 67.35. The rupee opened at 67.45.
India’s benchmark Sensex index fell 0.42% or 102.95 points to 24,556.28.
Most of the Asian currencies trading lower. South Korean won was down 0.74%, Malaysian ringgit 0.59%, Taiwan dollar 0.44%, Indonesian rupiah 0.27%, Singapore dollar 0.22%, China Renminbi 0.15%, Philippines peso 0.15%, China Offshore 0.14%.
Meanwhile, India’s 10-year bond yield was at 7.64%, as compared with its Tuesday’s close of 7.642%.
Traders are cautious ahead of the ECB meets on Thursday and there is expectations of further action from the ECB especially since the inflation data was weaker than expectations. Traders are also cautious ahead the monitory policy meetings of the Bank of Japan and Federal Reserve due on 15 March and 16 March respectively.
Since the beginning of this year, the rupee has lost 1.9%, while foreign institutional investors have sold $1.88 billion from local equity and $1.11 million in debt markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.384, up 0.18% from its previous close of 97.209.
Source : livemint.com
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