MUMBAI: The Indian rupee on Monday weakened against the US dollar tracking losses in Asian currencies as Greece voted against accepting further austerity.
The local unit opened at 63.63 per dollar. At 9.11am, the home currency was trading at 63.58, down 0.23% from its previous close of 63.44.
The Sensex was trading at 27,857.20, down 0.84% or 235.59 points.
Most of the Asian currencies were trading lower. Malaysian ringgit was down 0.72%, Singapore dollar 0.39%, Indonesian rupiah 0.29%, South Korean won 0.2%, Taiwan dollar 0.16%, Philippines peso 0.15%, Thai baht 0.15% and China offshore 0.07%. Japanese yen was trading up 0.2%.
German chancellor Angela Merkel and French President Francois Hollande will meet in Paris on Monday afternoon as the European Union’s grand single currency project faces the biggest challenge since its inception, Reuters reported. Stunned European leaders called a summit for Tuesday to discuss their next move as investors fear “Grexit” could encourage anti-euro sentiment in other countries, it added.
The yield on India’s 10-year benchmark bond was trading at 7.815% compared with its Friday’s close of 7.804%. Bond yields and prices move in opposite directions.
