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USD/INR ends over 1-mo low on selling by exporters, weak dlr

20 November 2018 / Evening Brief

Indian Rupee

  • The rupee settled at 71.45 against 71.64 at the previous close. The local unit moved in 71.28‐72.45 per dollar band intra-day.
  • Dollar/rupee ended over one‐month low Tuesday on selling by foreign banks & exporters amid tracking subdued dollar, The RBI after nine hours marathon meeting of its central board members Monday agreed to constitute a panel to look into the Economic Capital Framework, while bank health under Prompt Corrective Action will examined by the Board for Financial Supervision of RBI.

Global Currency

  • The dollar slid lower on Tuesday, to trade at a near two week low against a currency basket as investors remained subdued ahead of the U.S. Thanksgiving holiday later in the week. The dollar has been pressured lower by dovish sounding comments late last week from Federal Reserve Vice Chair Richard Clarida and Dallas Fed President Robert Kaplan who raised concerns over a slowdown in global economic growth.
  • The euro fell from a two‐week high on Tuesday as a selloff in European stock markets and nervousness about Italian banks fed through to the currency. The euro gave up is gains as European stocks fell, Italian bank shares hit a two‐year low and Italian bonds sold off again amid an ongoing confrontation with the European Union over Rome's budget plans.

Global Markets

  • Oil prices fell on Tuesday, set to snap a four‐day winning streak amid concerns about rising global supplies as OPEC weighs production cuts. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $56.63 per barrel, down 57 cents, or 1 percent.
  • Gold inched lower on Tuesday, pressured by a slight uptick in the dollar and held a narrow range in light trade ahead of the U.S. Thanksgiving holiday. Spot gold was down 0.1 percent at $1,223.01 per ounce, having earlier hit a peak since Nov. 8 at $1,225.88

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 72.37 71.46 -0.2
EUR/USD 1.14343 81.69 -0.41
GBP/USD 1.28548 91.90 -0.16
USD/JPY 112.437 0.64 -0.12
SEK/INR 9.1343 7.9229 -0.028
DKK/INR 6.447 11.2250 0.49
AUD/USD 1.3743 51.97 -0.26
DXY 96.283 0.09
Index Today % Change
NIFTY 10656.2 -1
SENSEX 35474.51 -0.84
NIKKEI 21583.12 -1.09
HANG SENG 25840.34 -2.02
SHANGHAI 2645.8545 -2.13
CAC# 4950.49 -0.7
FTSE # 7264.61 0.0042
DAX # 11164.46 -0.71
Commodities Today % Change
GOLD # 1222.95 -0.08
SILVER# 14.38 -0.01
BRENT # 66.67 -0.18
NYMEX # 57.32 0.21
Today Today
OPEN 71.4500
HIGH 72.5200
LOW 71.2800
CLOSE 71.4500

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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