At 02.06 am, the rupee was trading at 68.67 a dollar, down 0.20% from its Friday’s close of 68.53

The Indian rupee weakened against the US dollar on Monday, following mixed sentiment in Asian peers. At 02.06 am, the rupee was trading at 68.67 a dollar, down 0.20% from its Friday’s close of 68.53. It opened at 68.51 a dollar and touched a high and a low of 68.49 and 68.71, respectively.

India’s wholesale price inflation shot up to 5.77% in June on increasing prices of vegetables and fuel items. The Wholesale Price Index (WPI)-based inflation stood at 4.43% in May and 0.90% in June last year. A Bloomberg survey of 23 economist have estimated Wholesale Price Index at 5.23% for the month of June against 4.43% for the month of May.

The benchmark Sensex lost 0.21%, or 89.03 points to 36,452.60 points in afternoon session.

The 10-year bond yield was trading at 7.84% compared to its previous close of 7.79%. Bond yields and prices move in opposite directions.

So far this year, rupee lost 6.98%, while foreign institutional investors have sold $ 853.89 million in equity and $8.77 billion in debt.

Asian currencies were trading mixed. South Korean won lost 0.507%, Indonesian rupiah 0.132% and Japanese yen lost 0.080%. However, Singapore dollar gained 0.235%, China Offshore 0.140%, Taiwan dollar 0.134%, Philippines peso 0.131%, China renminbi 0.097%, Malaysian ringgit 0.074% and Hong Kong dollar 0.001%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 94.639, down 0.04%, from its previous close of 94.68.

source: livemint.com