Mumbai: The rupee on Tuesday closed near two month low against US dollar before a two-day Federal Reserve meeting this week at which officials are expected to announce balance-sheet reduction details.
The rupee closed at 64.33 a dollar—a level last seen on 26 July, down 0.25% from its Monday’s close of 64.08. The home currency opened at 64.16 a dollar and touched a low of 64.34.
The 10-year bond yield closed at 6.592% compared to its previous close of 6.61%. Bond yields and prices move in opposite directions.
The benchmark Sensex index fell 0.07% or 21.39 points to closed at 32,402.37. So far this year, it has risen over 21.09%.
So far this year, the rupee has gained 6%, while foreign institutional investors (FIIs) have bought $6.78 billion and $20.41 billion in equity and debt, respectively.
Asian currencies were trading lower. South Korean won was down 0.41%, China offshore 0.23%, Indonesian rupiah 0.18%, China renminbi 0.14%, Taiwan dollar 0.14%, Malaysian ringgit 0.06%. However, Philippines peso was up 0.21%, Hong Kong dollar 0.16%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 91.861, down 0.2% from its previous close of 92.047.