The Indian rupee and bond prices fell on concern over higher inflation and worsening government finance after a jump in crude oil prices. Weakness in other emerging market currencies against the US dollar also kept the rupee under pressure. At 9.15 am, the rupee was at 70.24 a dollar, down 0.30% from its previous close of 70.03. Other Asian currencies also traded lower as lingering U.S.-China trade issues weighed on sentiment and as the dollar index extended gains on improved U.S. economic data. The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.82, up 0.04% from its previous close of 97.855.

Source: Mint May 17, 2019 03:46 UTC