Rupee opens lower at 62.37 as dollar strengthens

 

Mumbai: The Indian rupee on Thursday opened lower tracking gains in the dollar versus other Asian currencies.

 

The domestic currency opened at 62.37 per dollar against its Tuesday’s close of 62.22.

Asian stocks languished in early trade on Thursday and the dollar firmed, after minutes of the Federal Reserve’s latest policy meeting showed it remained on track to taper its stimulus despite a recent spate of downbeat US economic data.

 

 

 

The dollar index, which measures the US currency’s strength against major currencies, was trading at 80.086, down 0.08% from its previous close of 80.144.

 

The South Korean won led the fall among Asian currencies, weakening 0.63% against the dollar.

The yield on India’s 10-year benchmark bond was trading at 8.789%, compared with its Tuesday’s close of 8.772%.

 

 

At 9.31pm, the domestic currency was trading at 62.42, down 0.33% from its previous close. The benchmark equity BSE Sensex was trading at 20,638.58 points, down 0.41%.

Rahul kumar Gupta

PGDM,1st Year.

Source:-Mint.