Rupee opens marginally lower tracking Asian peers

The Indian rupee weakened marginally against the US dollar on Wednesday tracking losses in other Asian currencies.

The currency opened at 71.52 to a dollar. At 9.10 am, the domestic currency was trading at 71.52, down 0.05% from its Tuesday’s close of 71.49.

The 10-year government bond yield was at 6.53% compared with its previous close of 6.48%.

In pre-trade, the benchmark equity index Sensex was up 0.20% at 37716.82 points. So far this year, the index has risen 4.36%.

In the year so far, foreign investors have bought nearly $7.54 billion in Indian equities and $3.69 billion in debt.

Most Asian currencies were trading lower as concern over the US-China trade spat persists, with no signs of a resolution in sight. South Korean won was down 0.17%, Thai Baht fell 0.14%, Malaysian ringgit declined 0.13%, Japanese yen lost 0.1%, and Indonesian rupiah fell 0.09%. However, Philippines peso was up 0.14%, China renminbi rose 0.05%, and Singapore dollar gained 0.04%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.073, up 0.08% from its previous close of 97.999.

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