On Wednesday, Indian rupee and bond prices dropped as the market worried that a increase in worldwide oil prices would boost national inflation. Traders, meanwhile, exercised caution, shaken by renewed trade war concerns following the threats to Beijing from US President Donald Trump in the midst of tariff talks and ahead of the long-awaited price cut in a century by the Federal Reserve.
After opening a dollar at 68.90, the Indian unit was traded at 68.90 in early deals, down 0.08 percent from its previous 68.86 close.
Other Asian currencies traded in a narrow range in morning trade. Malaysian ringgit was down 0.05%, Taiwan dollar 0.05%, China Offshore 0.03%. However, Philippines peso was up 0.06%, Singapore dollar 0.05%, Japanese yen 0.04%.
The dollar index, which measures the power of the U.S. currency against a basket of significant currencies, stood at 98,061, up 0.02% from its prior 98,05 close.
Post a Comment