The Indian rupee on Thursday weakened against the US dollar tracking the losses in its Asian peers after better-than-expected private US employment data boosted the speculation that Federal Reserve may raise interest rates in its March meeting.
The rupee opened at 66.82 a dollar. At 9.15am, the home currency was trading at 66.84, down 0.2% from its Wednesday’s close of 66.70.
Asian currencies were trading lower. South Korean won was down 0.81%, Taiwan dollar 0.24%, Indonesian rupiah 0.15%, China offshore 0.14%, Malaysian ringgit 0.11%, Japanese yen 0.09%, China renminbi 0.08%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.133—up 0.06% from its Monday’s close of 102.07.
On Wednesday night, the ADP employment report showed private payrolls surged by 298,000 last month, far above expectations.
The rupee opened at 66.82 a dollar. At 9.15am, the home currency was trading at 66.84, down 0.2% from its Wednesday’s close of 66.70.
Asian currencies were trading lower. South Korean won was down 0.81%, Taiwan dollar 0.24%, Indonesian rupiah 0.15%, China offshore 0.14%, Malaysian ringgit 0.11%, Japanese yen 0.09%, China renminbi 0.08%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.133—up 0.06% from its Monday’s close of 102.07.
On Wednesday night, the ADP employment report showed private payrolls surged by 298,000 last month, far above expectations.
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