The Indian rupee little changed at 71.99 pair now at 71.91 against 71.98 previous close.
Pair to tip in 71.70- 72.00 range today.
Dollar/rupee dropped after opening flat Friday on selling by exporters amid weakness in the dollar Local stocks opened higher Friday on overseas fund value buying after Fitch Ratings maintained India's GDP growth outlook. The dollar remained subdued against its major peers as investors digested the mixed US economic data.
The British pound struggled to stay afloat in Asian trade on Friday having suffered a tumultuous slide overnight, as investors feared political turmoil in the country could see it crash out of the European Union without a divorce deal. Both the dollar and the yen benefited from a deepening crisis for UK Prime Minister Theresa May after the resignation of key ministers from her government imperilled her Brexit plan.
The euro tacked on 0.05 percent to trade at $1.1338. Investors were hopeful after reports out of Italy said that Italian Prime Minister Giuseppe Conte was looking to work with the EU over his government's 2019 budget, which has been rejected by Brussels. The single currency has gained over the last three trading sessions, but was up only 0.1 percent versus the dollar month to date.
Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged. Brent crude oil futures LCOc1 were up 48 cents, or 0.7 percent, at $67.10 per barrel.
Gold hit a near one-week peak on Thursday as investors sought cover from market turmoil after Britain's long-awaited draft agreement to leave the European Union was thrown into chaos, helping the metal hold its ground against a rising dollar.
Global Markets at one Glance
Key Events of the Day
CPI (YoY) (Oct)
Share this post?
Download RouteForex Mobile App
And Track Your Entire Portfolio
Request a Call Back
Your submission is received and our Expert will contact you soon