The Indian rupee fell 3 paise against the US dollar
even as Asian currencies and local equities markets weakened on October 26. At
9.10 am, the home currency was trading at 83.20 a dollar, up 0.01 per cent from
its previous close of 83.19.
Brent oil headed higher to $90 per barrel on news of US
tightening sanctions on Iran’s crude oil export over Iran’s backing of Hamas.
The US 10 year rose to 4.96 per cent as the dollar index reached 106.74 with
most European currencies down.
Analysts said Indian stock markets are bearish due to
falling oil prices, rising US bond yields, diplomatic efforts in the Middle
East, and foreign investors selling. Inflation and recession concerns persist.
Asian currencies were trading weaker. South Korean won
fell 0.62 per cent, Thai Baht lost 0.42 per cent, Indonesian rupiah 0.4 per cent,
Taiwan dollar 0.26 per cent, Singapore dollar and Philippines peso declined
0.18 per cent each, Malaysian ringgit fell 0.15 per cent, and China renminbi
declined 0.14 per cent.
The dollar index, which measures the US currency’s
strength against major currencies, was trading at 106.762, up 0.22 per cent
from its previous close of 106.528.
Agencies
