MUMBAI: The Indian rupee on Wednesday weakened against the US dollar, following other Asian currencies markets.
The local unit opened at 63.66 per dollar. At 9.07am, the home currency was trading at 63.65, down 0.07% from its previous close of 63.61.
Most of the Asian currencies were trading lower. South Korean won was down 0.3%, Taiwan dollar down 0.26%, Malaysian ringgit 0.26%, Indonesian rupiah 0.21%, Thai baht 0.1% and Philippines peso 0.1%.
The local equity market was trading higher for the eighth consecutive session. The Sensex was trading at 27,864.16, up 0.22% or 59.76 points. Since 11 June till date, the Sensex gained 1,425 points or 5.37%.
The yield on India’s 10-year benchmark bond was trading at 7.761% compared with its Tuesday’s close of 7.752%. Bond yields and prices move in opposite directions.
Since the beginning of this year, the rupee has lost 0.88%, while foreign institutional investors have bought $6.36 billion from local equity and $6.42 billion from bond markets.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.282, down 0.16% from its previous close of 95.432.
