Mumbai: The Indian rupee on Monday weakened marginally against the US dollar tracking losses in the Asian currencies markets.
The rupee closed at 64.50, down 0.09% from its Friday’s close of 64.45. The rupee opened at 64.51 a dollar and touched a low of 64.59.
The benchmark Sensex index rose 0.26% or 81.07 points to closed at 31,109.28. So far this year, it has gained 15%.
So far this year, the rupee has gained 5.4%, while foreign investors bought $7.92 billion and $9.97 billion in local equity and debt markets, respectively.
The 10-year bond yield closed at 6.67% compared to its previous close of 6.652%. Bond yields and prices move in opposite directions.
Asian currencies were trading lower. Taiwan dollar was down 0.32%, Singapore dollar 0.2%, Thai Baht 0.18%, Indonesian rupiah 0.14%, Malaysian ringgit 0.12%, South Korean won 0.11%, Philippines peso 0.09%, Japanese yen 0.05%. However, China renminbi was up 0.19%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.386, down 0.06% from its previous close of 97.442.
Federal Reserve Bank of San Francisco President John Williams said three interest-rate increases this year makes sense as the central bank takes gradual steps to tighten monetary policy and shrink the central bank’s balance sheet to prevent the economy from overheating, Bloomberg reported.
Fed policy makers including Lael Brainard and Patrick Harker are due to speak at events this week following Williams’ comments on Monday, ahead of the so-called quiet period for the Fed starting 3 June, leading up to the policy meeting.