The Indian rupee on Wednesday was trading marginally weaker against the US dollar, tracking losses in Asian currencies as traders wait for the Federal Reserve’s policy decision amid the latest uncertainties surrounding the US-China trade negotiations.
At 9.05am, the rupee was trading at 69.11 a dollar, down 0.2% from its previous close of 68.96. The home currency opened at 69.05 a dollar.
Bond yields fell after crude’s rally halted as some US officials were said to fear a Chinese push back in negotiations between the world’s two largest energy consumers.
The 10-year bond yield was trading at 7.372% from its Tuesday's close of 7.375%. Bond yields and prices move in opposite directions.
So far this year, the rupee has gained 1.2%, while foreign investors have bought $5.60 billion in equity and sold $261.10 million in debt market.
India's benchmark index Sensex rose 0.09% to 38397.14 points. Year to date, it rose 6.4%.
Asian currencies were trading lower. Japanese yen was down 0.2%, Thai Baht 0.11%, Singapore dollar 0.1%. However, Indonesian rupiah was up 0.2%, South Korean won 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.477, up 0.1% from its previous close of 96.383.
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