The Indian rupee on Monday opened weaker but soon erased all the losses and was trading little changed against the US dollar.
The local currency opened at 67.08 a dollar. the home currency was trading at 67.04, down 0.03% from its previous close of 67.02. Traders are focusing on results of the upcoming state elections on 11 March.
India’s 10-year bond yield was at 6.863% compared to its Friday’s close of 6.852%. Bond yields and prices move in opposite directions. India’s benchmark Sensex index fell 0.07% or 18.81 points to 28,449.94. So far this year, Sensex has risen 7%.
Most Asian currencies were trading lower. Philippines peso was down 0.33%, Japanese yen fell 0.26%, Indonesian rupiah 0.17%, Malaysian ringgit 0.11% and Taiwan dollar fell 0.08%. However, China offshore rose 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.95, up 0.01% from its previous close of 100.94 .
The local currency opened at 67.08 a dollar. the home currency was trading at 67.04, down 0.03% from its previous close of 67.02. Traders are focusing on results of the upcoming state elections on 11 March.
India’s 10-year bond yield was at 6.863% compared to its Friday’s close of 6.852%. Bond yields and prices move in opposite directions. India’s benchmark Sensex index fell 0.07% or 18.81 points to 28,449.94. So far this year, Sensex has risen 7%.
Most Asian currencies were trading lower. Philippines peso was down 0.33%, Japanese yen fell 0.26%, Indonesian rupiah 0.17%, Malaysian ringgit 0.11% and Taiwan dollar fell 0.08%. However, China offshore rose 0.1%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.95, up 0.01% from its previous close of 100.94 .
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