Offers & Promotions Download Brochure Get a Call Back Download App
Contact us

USD/INR ends down on weak dlr, likely FII inflows into local debt

11 July 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 68.44 against 68.5650 at the previous close. The local unit moved in 68.29-68.4725 per dollar band intra-day.
  • Dollar/rupee ended down Thursday tracking a weak greenback amid likely overseas inflows into local debt. Dollar is sharply down after Fed Powell's testimony. Foreign banks were on the sell-side. FII inflows into local government debt segment also weighed on the spot. US dollar weakened against its major counterparts after a dovish testimony from the Federal Reserve Chair Jerome Powell reinforced prospects of a cut in US interest rate later this month.

Global Currency

  • The dollar was mostly lower in early trading in Europe Thursday, extending losses made on Wednesday after Federal Reserve Chairman Jerome Powell dropped his clearest hint yet that the central bank will cut interest rates at its next policy meeting at the end of the month. The dollar’s biggest losses were against the yen, dipping as low as 107.86, before rebounding to just above 108 in Europe.
  • The euro also hit its highest level in nearly a week to trade up 0.2% at $1.1271. Whether it goes on to test $1.13 may depend on the accounts of the last European Central Bank’s policy meeting, which are due for release

Global Markets

  • Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.
  • Gold prices rose to a one-week high on Thursday, extending gains from the previous session after U.S. Federal Reserve Chairman Jerome Powell's dovish remarks bolstered expectations of an interest rate cut this month.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 68.45 68.45 -0.07
EUR/USD 1.1281 77.15 0.19
GBP/USD 1.25604 85.85 0.38
USD/JPY 108.049 0.63 0.25
SEK/INR 9.3869 7.2921 0.032
DKK/INR 6.098 11.2250 0.49
AUD/USD 1.4315 47.77 0.12
DXY 96.13 -0.40
Index Today % Change
NIFTY 11498.90 -0.49
SENSEX 38557 -0.45
NIKKEI 21533.30 -0.15
HANG SENG 28204.70 +0.31
SHANGHAI 2915.30 -0.44
CAC# 5573.30 +0.02
FTSE # 7531.25 -0.07
DAX # 12383.50 -0.43
Commodities Today % Change
GOLD # 1390 -0.28
SILVER# 15.02 0.08
BRENT # 64.51 0.62
57.99 0.57
Today Today
OPEN 68.3000
HIGH 68.4725
LOW 68.2900
CLOSE 68.4400

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

Share this post?