Rupee trades lower at 67.05 against US dollar


The Indian rupee on Tuesday weakened marginally against the US dollar, as traders turned cautious ahead of two key central bank meetings.The rupee opened at 66.96 per dollar and touched a low of 67.07. At 10am, the home currency was trading at 67.05 per dollar, down 0.13% from its previous close of 66.97.The US Federal Reserve and the Bank of Japan are both scheduled to deliver their latest monetary policy decision on Wednesday.Asian currencies were trading mixed as investors geared up for the two key meetings. Taiwan dollar was up 0.27%, Indonesian rupiah 0.12% and Japanese yen 0.06%. However, China offshore spot was down 0.1% and South Korean won 0.07%.
India’s benchmark Sensex index fell 0.24% or 67.87 points to 28,566.63. So far this year, it has gained 9.3%.The 10-year bond yield stood at 6.882% compared to its Monday’s close of 6.88%. Bond yields and prices move in opposite directions.The rupee is down 1.17% till date this year, while foreign institutional investors have bought $6.37 billion in equity and sold $589.60 million in debt markets.The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.881, up 0.04% from its previous close of 95.841.

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