Rupee Watch: Rupee opens weaker after four-day rally, tracks Asian peers — TradingView News
After four sessions of gains, the Indian rupee opened weaker against the dollar on April 9, tracking losses in Asian currencies.
At 9:00 am, the rupee was trading at 92.69 per dollar, down 0.11 percent from its previous close of 92.58.
The dollar gauge inched higher as investors remained concerned about the durability of the ceasefire between the US and Iran amid continued tensions in the Middle East.
Crude oil prices rose more than 2 percent in Asian trading, rebounding from their biggest one-day drop since April 2020, as the Strait of Hormuz remained largely blocked. Market participants are also awaiting key US data, including weekly jobless claims and personal consumption expenditures, the Federal Reserve’s preferred inflation gauge.
Among Asian currencies, the Indonesian rupiah and Philippine peso declined 0.4 percent each, while the South Korean won fell 0.2 percent. The Malaysian ringgit and Taiwan dollar slipped 0.16 percent each, the Japanese yen declined 0.1 percent, and the Chinese renminbi edged lower by 0.05 percent.
The dollar index, which measures the US currency’s strength against major currencies, was at 99.04, down 0.10 percent from the previous close of 99.13.
