Rupee trades marginally weaker against the US dollar

At 3.30 pm, the rupee was trading at 64.85 against the US dollar, down 3 paise, or 0.05% from its previous close of 64.84.

The rupee on Thursday weakened marginally against the US dollar, tracking losses in the Asian currencies market.

Year to date, the rupee has weakened 1.6%, while foreign investors have bought $1.39 million in equity and sold $137.80 million in debt markets. (Scott Eells/Bloomberg)

At 3.30 pm, the local currency was trading at 64.85 a dollar, down 0.05% from its previous close of 64.84. The home currency opened at 64.93 a dollar and touched a high and a low of 64.81 and 64.98 respectively.

Yields on 10-year government bonds was at 7.649% compared to Wednesday’s close of 7.685%. Bond yields and prices move in opposite directions.

Traders are awaiting trade deficit data for February due later in the day. According to a Bloomberg survey, for February, deficit will be at $14.20 billion from January’s $16.30 billion shortfall.

Year to date, the rupee has weakened 1.6%, while foreign investors have bought $1.39 million in equity and sold $137.80 million in debt markets.

India’s benchmark Sensex index rose 0.40%, or 135.49 points, to 33,700. So far this year, Sensex has fallen 0.65%.

Asian currencies were trading mixed. Malaysian ringgit was down 0.27%, South Korean won 0.23% and Indonesian rupiah 0.15%. However, Japanese yen was up 0.34%, China renminbi 0.11% and Philippines peso rose 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 89.678, down 0.03% from its previous close of 89.704.