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USD/INR ends up on oil bids, strong dlr

22 July 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 68.9125 against 68.8025 at the previous close. The local unit moved in 68.89-69.0450 per dollar band intra-day.
  • USD/INR ends up on oil bids, strong dlr. Nationalised banks including Bank of Baroda and Bank of India were on the buy-side today. PSBs bought most likely for oil importers. Dollar/rupee ended at Rs 68.9125/$1 Monday compared to previous close of Rs 68.80/$1. Crude oil prices continued easing after US government data showed large builds in refined product stockpiles. The greenback weakened against its major counterparts weighed down by lower US yields.

Global Currency

  • The dollar pushed higher against the yen on Monday as investors tempered expectations for an aggressive Federal Reserve interest rate cut later this month. Trump maintained pressure on Beijing last week by renewing a threat to impose tariffs on another $325 billion of Chinese goods, even as hopes grew that the two sides could soon resume face-to-face negotiations in a bid to end their year-long trade war.
  • The euro weakened to $1.12 in Asian trading as the dollar gained on safe-haven demand amid rising tensions in the Middle East. Positioning data published last week showed that investors remain net long of dollars, unchanged from the previous week.

Global Markets

  • Gold prices gained on Monday following a steep fall in the previous session as tensions in the Middle East and weaker financial markets supported the metal, while a stronger dollar kept a lid on gains. U.S. gold futures GCv1 were up 0.1% at $1,427.80 an ounce.
  • Oil prices rose sharply on Monday on concerns that Iran's seizure of a British tanker last week may lead to supply disruptions in the energy-rich Gulf.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 68.9225 68.9225 0.09
EUR/USD 1.121 77.28 -0.01
GBP/USD 1.2455 85.84 -0.25
USD/JPY 107.963 0.64 -0.15
SEK/INR 9.4038 7.3292 -0.0055
DKK/INR 6.140 11.2250 0.49
AUD/USD 1.4188 48.56 0.04
DXY 96.93 0.12
Index Today % Change
NIFTY 11346 -73
SENSEX 38031 -305
NIKKEI 21469 -0.31
HANG SENG 28602 0
SHANGHAI 2915.30 -0.44
CAC# 5610 -0.10
FTSE # 7500 0.10
DAX # 12274 -0.53
Commodities Today % Change
GOLD # 1426 -0.38
SILVER# 16.39 0.19
BRENT # 63.24 1.26
NYMEX # 56.35 1.33
Today Today
OPEN 68.8900
HIGH 69.0450
LOW 68.8900
CLOSE 68.9125

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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