Mumbai: The Indian rupee on Wednesday pared all the gains and closed weaker against the US dollar tracking losses in the Asian currencies markets.
Earlier, the rupee opened at 64.02 a dollar and touched a high of 63.99, a level last seen on 27 April or gained as much as 0.12%. It closed at 64.16 a dollar, down 0.11% from its Tuesday’s close of 64.08.
The benchmark Sensex index rose 0.25% or 76.17 points to closed at 30,658.77. So far this year, it has risen 14%.
So far this year, the rupee has gained 6%, while foreign investors bought $6.77 billion and $9 billion in local equity and debt markets, respectively.
The 10-year bond yield closed at 6.679% compared to its previous close of 6.669%. Bond yields and prices move in opposite directions.
Asian currencies were trading lower. South Korean won was down 0.2%, Indonesian rupiah 0.18%, Taiwan dollar 0.16%, Philippines peso 0.13%, Thai Baht 0.11%, Malaysian ringgit 0.05%. However, Japanese yen was up 0.6% and Singapore dollar 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.97, down 0.14% from its previous close of 98.105.
The dollar fell to the lowest level since the US election in November as political turmoil surrounding President Donald Trump sapped demand for the greenback.