Rupee closes at over 1-week low against US dollar

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Mumbai: The Indian rupee on Friday closed at over one-week lower against the US dollar, tracking losses in the global equity markets.

The home currency ended at 67.51 against the US dollar, down 0.56% from its previous close of 67.13. The currency opened at 67.46 a dollar and touched a high and a low of 67.43 and 67.79, respectively.

Traders turned their focus on key risk events in the coming week including a Group-of-Seven summit and monetary policy review meetings of the world’s three biggest central banks.

The US Federal Reserve, European Central Bank and Bank of Japan will all hold policy meetings next week. Investors also eye the 12 June summit between US President Donald Trump and North Korean leader Kim Jong Un, Bloomberg reported.

Bond yields fell after hitting 8% in morning trade. The 10-year bond yield ended at 7.947% from its Thursday’s close of 7.993%. Bond yields and prices move in opposite directions.

So far this year, the rupee has weakened 4.86%, while foreign investors have bought $241.20 million and sold $4.48 billion in equity and debt markets, respectively.

Benchmark Sensex Index fell 0.05% or 19.41 points, to 35,443.67. Since January, it has gained 4.13%.livemint