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India Rupee At 10-Wk High On Strong Shares; RBI Likely Steps In

13 March 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.5350 against 69.7050 at the previous close. The local unit moved in 69.43 -69.79 per dollar band intra-day.
  • The Indian rupee jumped to a 10-week high to rise for a third session against the dollar, on greenback sales by exporters amid strength in local shares that increased hopes of foreign fund inflows. Rupee opened weaker, but recouped losses once the oil bids were absorbed by exporters. The 69.50 level was an immediate resistance for the local unit, which was broken as the foreign fund inflows have been strong and FIIs have been bringing funds in last few sessions, A weaker dollar index also helped apart from the rising stock market.

Global Currency

  • The British pound is higher against the dollar and euro in early trading in Europe Wednesday, as the market leans on balance towards believing that Brexit will be softened, delayed or even cancelled. The U.K. parliament rejected the government’s deal on leaving the European Union for a second time on Tuesday, effectively killing it as the EU has said it isn’t prepared to negotiate any more on the terms of leaving.
  • The dollar index, which measures the value of the greenback against a basket of six major currencies, was at 96.94, practically unchanged. The House of Commons is due to vote later Wednesday on whether to leave the EU without a deal on March 29.

Global Markets

  • Oil prices rose on Wednesday, buoyed by an official forecast showing slower-than-expected U.S. production, and as U.S. sanctions stall exports from Venezuela.
  • Gold rose to a near two-week peak on Wednesday, holding above the key $1,300 mark as uncertainty over Britain's exit from the European Union drove investors to safe haven assets. U.S. gold futures GCv1 rose 0.8 percent to $1,308.50.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.545 69.545 -0.11
EUR/USD 1.1297 78.54 -0.08
GBP/USD 1.31619 91.46 0.60
USD/JPY 111.387 0.62 -0.21
SEK/INR 9.3454 7.4416 0.0073
DKK/INR 6.196 11.2250 0.49
AUD/USD 1.4152 49.11 -0.14
DXY 96.898 -0.04
Index Today % Change
NIFTY 11341.7 0.36
SENSEX 37752.17 0.58
NIKKEI 21290.24 -0.99
HANG SENG 28807.45 -0.39
SHANGHAI 3026.9513 -1.09
CAC# 5289.58 0.37
FTSE # 7264.61 0.0042
DAX # 11521.05 -0.03
Commodities Today % Change
GOLD # 1307.6545 0.45
SILVER# 15.37 0.21
BRENT # 67.02 0.52
NYMEX # 57.41 0.95
Today Today
OPEN 69.7400
HIGH 69.7900
LOW 69.4300
CLOSE 69.5350

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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