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MUMBAI, Dec 20 (Reuters) - The Indian rupee weakened on Thursday tracking Asian peers after the US Federal Reserve’s rate statement on Wednesday which sounded “less dovish” than expected, traders said.
Government bonds also fell as Fed rate hike fears continued to loom.
The Indian rupee was at 70.57 to the dollar in early trade after opening at 70.68 and weaker than Wednesday’s close of 70.39. The 10-year benchmark bond yield eased to 7.24 percent from previous close of 7.22 percent. (Reporting by Suvashree Dey Choudhury; Editing by Rashmi Aich)