The rupee settled at 73.45 against 73.95 at the previous close. The local unit moved in 73.45-73.87 per dollar band intra-day.
The Indian rupee rose for the first time in three days against the dollar, as crude oil prices slipped below the $75-per-barrel mark and investors’ risk appetite improved after the dollar index weakened. Strength in the euro and pound dragged the dollar index, improving risk appetite that helped the rupee in early trade. Reports suggesting India getting waiver to import oil from Iran is a huge positive, even as drop in crude oil prices aided.
The yen rose slightly to 112.90. The Japanese currency weakened to a three-week low of 113.38 on Wednesday after the Bank of Japan signalled its intention to maintain its ultra-loose monetary policy for some time.
The euro rebounded from 2-1/2 month lows on Thursday as currencies hit hard by recent dollar buying roared higher, with the mood for risk-taking starting the month on a much more positive footing. The euro rose to as high as $1.1389 EUR= , away from recent lows of $1.1302 that had followed weak euro zone data and worries about the Italian budget. one percent jump in sterling on reports of a likely EU-UK Brexit deal on financial services added to the dollar's woes, pulling it off 16-month highs.
Oil fell, on course for its fourth consecutive week of decline, as rising crude supply met the bearish combination of concern over global growth and weak equity markets. Russia is pumping oil at a post-Soviet high, U.S. crude output has topped 11 million barrels a day and a Reuters survey of OPEC production shows the group more than made up for any declines in Iranian shipments in October.
Gold rose on Thursday, rebounding from a three-week low touched in the previous session as the dollar's retreat from multi-month highs made the metal less expensive for holders of other currencies.
Global Markets at one Glance
Markets at 5.00pm
Key Events of the Day
Manufacturing PMI (Oct)
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