Business

Rupee opens lower at 66.27 against US dollar

Mumbai, Dec 29: The Indian rupee on Tuesday weakened marginally against the US dollar in thin holiday trade.

The local currency opened at 66.27 a dollar. At 9.09am, the rupee was trading at 66.29 a dollar, down 0.12% from its previous close of 66.20.

The benchmark Sensex gained in eight out of 11 trading sessions. Since 11 December till date, it gained over 1,000 points or 4%. India's benchmark equity index, BSE Sensex, was trading at 26,091.57 points, up 0.22% or 57.44 points.

The yield on India's 10-year benchmark bond stood at 7.77% compared with its Monday's close of 7.761%. Bond yields and prices move in opposite direction.

Since the beginning of this year, the rupee has weakened 4.15% against the dollar, while foreign institutional investors have bought $3.01 billion from local equity and $7.65 billion from the debt markets.

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