MUMBAI: The Indian rupee on Wednesday weakened against the US dollar, tracking losses in the Asian currencies market.
At 9.12am, the home currency was trading at 63.93, down 0.27% from its previous close of 63.75. The local unit opened at 63.89 per dollar.
The benchmark Sensex index rose 0.24% to 28,138.04 points.
Most of the Asian currencies were trading lower. Malaysian ringgit was down 0.65%, South Korean won 0.62%, Taiwan dollar 0.37%, Philippines peso 0.33%, Indonesian rupiah 0.32%, Singapore dollar 0.32% and Thai baht 0.06%.
The yield on India’s 10-year benchmark bond was trading at 7.850% compared with its Tuesday’s close of 7.840%. It opened at 7.841% and touched a high of 7.858%, a level last seen on 14 July. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 1.1%, while foreign institutional investors have bought $7.13 billion from local equity and $6.27 billion from bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 98.127, up 0.2% from its previous close of 97.931.
