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Rupee Trades Lower Due To Weakness In Other Asian Currencies

Roshni Agarwal

The Indian rupee on Wednesday retreated lower due to weakness in other Asian currencies. The weakness came in against backdrop of a report which states that tariffs on Chinese goods will likely continue even after the US election. At 9:45 am, the currency traded at 70.95 per US dollar versus its previous close of 70.88.

Oil prices also went down as the US-China phase one deal is unlikely to boost demand for the commodity.

The yield on the 10-year government bond was at 6.645% compared with its previous close of 6.667%. Bond yield and prices moves in opposite directions.

In trade today, the benchmark Sensex and Nifty both traded lower by as much as 0.5%.

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