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India Rupee At Over 4-Month High Tracking Dollar Plunge

1 January 2018 / Evening Brief

Indian Rupee

  • The rupee settled at 69.4475 against 69.77 at the previous close. The local unit moved in 69.44-69.74 per dollar band intra-day.
  • The Indian rupee rose to a more‐than‐four‐month high against the dollar in the first trading session of 2019, aided by the greenback’s overnight decline against major currencies. Volume remained thin as almost all major markets were shut for the New Year holiday. Apart from the scheduled data releases, any development on U.S.‐China trade deal front will be crucial for rupee, while any more uptick in oil prices will also impact the local currency.

Global Currency

  • The dollar edged lower in thin year‐end trading on Monday, as increased risk appetite weighed on demand for safe haven currencies, but the greenback remained on pace for its strongest annual performance in three years. The dollar index .DXY , which tracks the greenback versus the euro, yen, sterling and three other currencies, was down 0.15 percent on Monday.
  • The pound rose more than half a percent, supported by broad‐based gains in stocks and hopes for a resolution of the trade dispute between the United States and China. The Australian dollar AUD=D3 , a currency highly correlated to global trade, also held near Asian session highs.

Global Markets

  • Oil prices ended with full‐year losses for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about a supply glut and mixed signals related to renewed U.S. sanctions on Iran. U.S. West Texas Intermediate crude (WTI) futures slumped nearly 25 percent.
  • Gold traded near a more than six‐month peak hit early on Monday but was headed for its first annual decline since 2015, having lost this year to dollar strength due to trade tensions and rising interest rates by the U.S. Federal Reserve.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.4575 69.4575 -0.16
EUR/USD 1.1498 79.82 0.03
GBP/USD 1.2748 88.46 -0.27
USD/JPY 109.64 0.63 -0.12
SEK/INR 8.8587 7.8406 -0.0156
DKK/INR 6.188 11.2250 0.49
AUD/USD 1.4187 48.93 0
DXY 95.871 -0.31
Index Today % Change
NIFTY 10910.1 0.44
SENSEX 36254.57 0.52
NIKKEI 20014.77 -0.31
HANG SENG 25845.7 1.34
SHANGHAI 2493.8962 0.44
CAC# 4730.69 1.11
FTSE # 7264.61 0.0042
DAX # 10558.96 0
Commodities Today % Change
GOLD # 1282.17 -0.04
SILVER# 15.445 0.78
BRENT # 54.15 1.77
NYMEX # 45.41 1.06
Today Today
OPEN 69.6200
HIGH 69.7400
LOW 69.4400
CLOSE 69.4475

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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