Rupee closes 9 paise weaker against US dollar at 63.51

Mumbai: The Indian rupee on Thursday weakened against the dollar, tracking the losses in the Asian market.

The Federal Reserve chairperson Janet Yellen signalled the US central bank is on track to raise interest rates this year. Forecasts issued by the Federal Open Market Committee in June implied two quarter-point rate rises this year, followed by a shallower path of increases than what officials predicted in March.

At 5pm, the rupee closed at 63.51 per dollar, down 0.15% from its previous close of 63.42. The partially convertible currency opened at 63.51 a dollar and touched a high and a low of 63.46 and 63.54, respectively.

Since January this year, the rupee has lost 0.74%.

On Thursday, Japanese yen lost 0.218%, Thai baht 0.270%, Malaysian ringgit 0.066%, Singapore dollar 0.146%, Philippine peso 0.066%, South Korean won 0.496%, Hong Kong dollar 0.005%, while Indonesian rupiah lost 0.015%. However, Taiwan dollar gained 0.029%.

The Sensex index gained 0.88% or 247.83 points to close at 28,446.12 points.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 97.57, up 0.42% from the previous close of 97.16.

The 10-year bond yield closed at 7.84% against its previous close of 7.84%. It opened at 7.84% and touched a high and a low of 7.848% and 7.824% respectively.