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Indian Rupee At Near 3-Week High On Exporters

22 October 2018 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 73.30 pair now at 73.24 against 73.32 previous close.
  • Pair to tip in 73.10- 73.50 range today.
  • The Indian rupee rose to a near three-week high against dollar in early trade, as foreign banks stepped up greenback sales, likely on behalf of their exporter clients, amid rebound in regional and local shares. The slump in the foreign exchange reserves data was on the expected lines as the rupee was hitting record lows, indicating that the central bank was not comfortable with the sharp depreciation.

Global Currency

  • The euro and the British pound edged down against the dollar on Monday as investors awaited developments around Brexit as well as Italy's budget plan which drew heavy criticism from the European Union.
  • Sterling had also rallied on Friday after Bloomberg News reported that British Prime Minister Theresa May is ready to drop a key Brexit demand in order to make a deal for Britain to leave the European Union.
  • The dollar was also broadly unchanged against its major rivals. Tensions with Saudi Arabia and the West, trade frictions and uncertainly about the global growth outlook kept most currency pairs stuck in tight ranges.

Global Markets

  • Oil prices rose on Monday as markets were expected to tighten once U.S. sanctions against Iran's crude exports are implemented next month. Front-month Brent crude oil futures LCOc1 were at $79.96 a barrel at 0414 GMT, 18 cents above their last close.
  • Gold prices edged higher early Monday, moving closer to a 2-1/2-month peak hit last week, as Asian shares fell amid rising political tensions and worries over slowing global economic growth. XAU= was up 0.1 percent at $1,227.56 an ounce.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 73.19 73.2 -0.25
EUR/USD 1.15114 84.25 -0.31
GBP/USD 1.30667 95.64 -0.24
USD/JPY 112.61 0.65 -0.3
SEK/INR 8.9861 8.1448 -0.0179
DKK/INR 6.4795 11.30 -0.0292
AUD/USD 1.4067 52.02 -0.18
1M 2.28188 -0.40857  
3M 2.47719 -0.35486  
6M 2.7235 -0.325  
1Y 3.02038 -0.20986  
Index Today % Change
NIFTY 10329.35 0.25
SENSEX 34419.91 0.3
BANK NIFTY 25316.95 0.92
SGX NIFTY 9347.5 0.33
NIKKEI 22532.08 -0.56
HANG SENG 26219.34 2.57
SHANGHAI 2665.5553 4.51
ASX200 5904.9 -0.58
DOW JONES 25444.34 0.26
S&P500 # 2767.78 -0.04
NASDAQ # 7107.233 0
Key Events of the Day
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