Thu. Dec 8th, 2022

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Rupee opens marginally lower amid mixed Asian cues

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Dollar vs Rupees

The Indian rupee on Tuesday opened marginally lower against the US dollar amid mixed cues from Asian peers.

At 9.10am, the domestic currency was trading at 70.80 a dollar, down 0.05% from Monday’s close of 70.77. The Indian unit had opened 70.80 a dollar.

Traders focus on the progress in the US and China trade deal. Earlier, the Financial Times reported that the US was debating whether to roll back levies on $112 billion of Chinese imports.

The benchmark equity index Sensex was at 40331.43, up 0.073%. Year to date, it has gained 11.36%.

In the year so far, the rupee has weakened 1.4%, while foreign investors have bought nearly $10.48 billion in Indian equities and $4.92 billion in debt.

Asian currencies were trading mixed. China Offshore was up 0.11%, China Renminbi 0.08%, Thai Baht 0.04%. However, Japanese yen was down 0.17%, South Korean won 0.15%, Indonesian rupiah 0.11%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.599, up 0.10% from its previous close of 97.505.

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