Today Rupee weakens against dollar on Asian cues
The Indian rupee on Friday weakened against the US dollar, following losses in its Asian peers on the prospects of US Federal Reserve interest rate hike in its mid-March meeting.
The local currency opened at 66.88 a dollar. At 9.15am, the home currency was trading at 66.89—down 0.26% from its Friday close of 66.71.
Traders are cautious ahead of the US Fed chairwoman Janet Yellen and vice-chairperson Stanely Fischer’s speech later in the day which may give cues on possible interest rate hike.
Asian currencies weakened. South Korean won was down 1.05%, Taiwan dollar 0.67%, Indonesian rupiah 0.27%, China renminbi 0.17%, Malaysian ringgit 0.16%, China Offshore 0.12%, Singapore dollar 0.11%.
However, Japanese yen was up 0.12%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.08—down 0.12% from its previous close of 102.20.
The local currency opened at 66.88 a dollar. At 9.15am, the home currency was trading at 66.89—down 0.26% from its Friday close of 66.71.
Traders are cautious ahead of the US Fed chairwoman Janet Yellen and vice-chairperson Stanely Fischer’s speech later in the day which may give cues on possible interest rate hike.
Asian currencies weakened. South Korean won was down 1.05%, Taiwan dollar 0.67%, Indonesian rupiah 0.27%, China renminbi 0.17%, Malaysian ringgit 0.16%, China Offshore 0.12%, Singapore dollar 0.11%.
However, Japanese yen was up 0.12%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.08—down 0.12% from its previous close of 102.20.
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