MUMBAI: The Indian rupee on Tuesday weakened against the dollar, tracking the losses in Asian currencies.
The local unit opened at 63.60 per dollar. At 9.07am, the home currency was trading at 63.61, down 0.16% from its previous close of 63.51.
The Sensex index gained 0.13% or 34.85 points to 27,765.06 points in pre-opening trade.
Most of the Asian currencies were trading lower. South Korean won was trading down 0.577%, Malaysian ringgit was down 0.559%, Philippine peso 0.330%, Japanese yen 0.299%, Singapore dollar 0.269%, Thai baht 0.169%, Indonesian rupiah 0.113%, Taiwan dollar 0.117% and Hong Kong Dollar 0.006%.
The yield on India’s 10-year benchmark bond was trading at 7.75% compared with its Monday’s close of 7.73%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 0.86%, while foreign institutional investors have bought $12.60 billion from local equity and bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.779, up 0.48% from the previous close of 94.329.
