Rupee trades flat at 68.54/$ after trade deficit narrows in June

The yield on the 10-year government bond was at 6.411% compared with Monday's close of 6.433%.

Jul 16, 2019 04:07 IST India Infoline News Service

Indian Rupee
The Indian rupee opened flat at 68.54 against the US dollar on Tuesday. The yield on the 10-year government bond was at 6.411% compared with Monday's close of 6.433%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 96.937 vs. its previous close of 96.93.

On the economy front, India’s exports in June 2019 were $25.01bn vs. $27.70bn in June 2018, exhibiting a negative growth of 9.71%. Imports in June 2019 were $40.29bn, which was 9.06% in Dollar terms and 6.85% lower in Rupee terms over imports of $44.30bn over June 2018.

The Wholesale Price Index (WPI) based inflation, the base year 2011-12, declined to a 23-month low of 2.0% in June 2019 from 2.5% in May 2019.

On Monday, the local unit advanced 15 paise to settle at 68.54 against the greenback, tracking gains in domestic equities and weakness in the greenback overseas. 

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