Rupee opens lower against US dollar | Indian Share Market

Indian Share Market


Rupee opens lower against US dollar

At 9.15am, the rupee was trading at 64.50 a dollar, down 0.13% from its Tuesday’s close of 64.41

Indian rupee on Wednesday weakened marginally against US dollar in opening trade ahead of gross domestic product (GDP) data due on 30 November.

The rupee opened at 64.46 a dollar. At 9.15am, the home currency was trading at 64.50 a dollar, down 0.13% from its Tuesday’s close of 64.41.

According to Bloomberg analysts’ estimates, gross value added (GVA) will be at 6.3% from 5.6% a quarter ago, while GDP will be at 6.5% from 5.7% last quarter.

The benchmark Sensex rose 0.09%, or 29.89 points, to 33,648.48. So far this year, it has gained 26.26%.

The 10-year bond yield was at 7.031%, compared to its previous close of 7.030%. Bond yields and prices move in opposite directions.

So far this year, the rupee has gained 5.4%, while foreign institutional investors have bought $8.82 billion and $22.61 billion in equity and debt, respectively.

Asian currencies were trading higher. China renminbi was up 0.12%, Japanese yen 0.08%, South Korean won 0.06%, Taiwan dollar 0.05% and China offshore rose 0.04%. However, Malaysian ringgit was down 0.12% and Philippines peso fell 0.08%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 93.19, down 0.09%, from its previous close of 93.27.



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