Mumbai: The Indian rupee was trading down on Thursday, tracking losses in other Asian currencies, as the dollar rose broadly on hopes that lawmakers are inching towards resolving a US fiscal standoff.
At 1.57pm, the local currency was trading at 62.01 per dollar, down 0.12% from its previous close of 61.94. India’s benchmark Sensex was trading at 20,260.06 points, up 0.05%. The rupee had earlier opened the session at 62.17 against the dollar.
The dollar index, which measures the US currency’s strength against major world currencies, was trading at 80.514, up 0.17% from its previous close of 80.376.
The yield on India’s 10-year benchmark bond was trading at 8.486%, compared with its Wednesday’s close of 8.461%.
Since January this year, the rupee has weakened 11.31% and has been the second biggest loser among Asian currencies after the Indonesian rupiah.
The US House of Representatives Republicans are considering signing onto a short-term increase in the government’s borrowing authority to buy time for negotiations on broader policy measures, according to a Republican leadership aide.
