The Indian rupee along with emerging Asian currencies weakened against the US dollar on Friday as prospects for a quick resolution of the US-China trade war faded after two days of talks ended with little progress. 
So far this year, the rupee has weakened 8.9%, while foreign investors have sold $493.40 million and $5.57 billion in equity and debt markets, respectively. Photo: Reuters
Traders are waiting for a speech by Federal Reserve Chairman Jerome Powell later in the day. At 9.10am, the rupee was trading at 70.23 a dollar, down 0.15%, from its Thursday’s close of 70.11. The home currency opened at 70.20 a dollar and touched a low of 70.23.
Asian currencies were trading weaker as the South Korean Won was down 0.2%, China Renminbi 0.16%, Indonesian Rupiah 0.16%, Japanese Yen 0.12%, Malaysian Ringgit 0.11%, Taiwan Dollar 0.11% and Philippines Peso 0.08%. However, China Offshore was up 0.17%.
Leave your comments
Login to post a comment
Post comment as a guest