Rupee depreciates by 6 paisa against US dollar

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The Indian rupee weakened on Monday in opening trade against the US dollar.

The rupee was opened at 66.44 a dollar, at 9.11 am was down by 0.10% from the previous close of 66.33.

Traders have been cautious on Nikkei India manufacturing purchasing manager’s data, which is due on Monday.

India’s Sensex index rose 0.12% or 30.61 points to 25,637.23 but so far the Sensex is 2% down this year.

On Friday India’s 10-year bond was trading with 7.436% and today it was trading at 7.431%.

Rupee2

Indian Rupee

This year the rupee has weakened 0.4% while the foreign investors bought $1.8 billion from the local equity market and sold at $267 million in debt markets.

Most of the Asian currencies were mixed trading against US Dollar. Thai baht 0.14%, Taiwan dollar was up by 0.21%, Singapore dollar 0.1% and China offshore 0.06%.

But Philippines peso was down by 0.26%, Indonesian rupiah0.1% and Malaysian ringgit fell 0.26%.

The dollar index was trading at 95.952 down 0.14% from its previous close of 93.082.

China’s manufacturing sector expanded second month in a row in April, but marginally raising doubts about the sustainability of the recent pick up in world’s second-largest economy.

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