Ethical Research - Rupee slips by 5 paise against US Dollar

The Indian rupee extended losses for the third consecutive session and it opened lower against the US Dollar.

The local unit opened lower by 5 paise at 71.59 per dollar on Wednesday vs. previous close 71.54/$. The yield on the 10-year Indian government bond was at 6.493% compared with its previous close of 6.494%.

Sterling held near six-month highs as Britain and the EU made headway on a Brexit deal ahead of a leader summit though it remained unclear if London could avoid postponing its scheduled departure on Oct. 31.

The local unit fell 31 paise on Tuesday to end at a nearly one-month low against the US currency due to heavy dollar buying amid fresh concerns over the progress of China-US trade talks.

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