The Indian rupee on Wednesday weakened against the US dollar, tracking losses in the Asian currencies markets.  At 9.08am, the rupee was trading at 64.26 a dollar, down 0.21% from its Monday’s close of 64.12. The rupee opened at 64.28 a dollar and touched a high and a low of 64.26 and 64.30, respectively.

The benchmark Sensex index gained 0.37% or 117.21 points to 31,566.24 in pre-opening trade. So far this year, it has risen 18.55%.  So far this year, the rupee has gained 5.93%, while foreign investors bought $8.5 billion and $18.97 billion in local equity and debt markets, respectively.

The 10-year bond yield was trading at 6.50% compared to its previous close of 6.52%. Bond yields and prices move in opposite directions.  Asian currencies were trading lower. South Korean won fell 0.56%, Taiwan dollar 0.14%, Philippines peso 0.14%, Indonesian rupiah 0.12%,Thai baht 0.054%, Singapore dollar 0.044%,China renminbi 0.033%, China offshore 0.040% and Malaysian Ringgit was down 0.023%. However, Japanese yen gained 0.09% and Hong Kong dollar 0.009%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.849, down 0.01% from its previous close of 93.853.

source: livemint.com