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Indian Rupee Steady As Exporters' Dlr Sales Offset Equity Selloff

24 December 2018 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 70.18 pair now at 70.18 against 70.1450 previous close.
  • Pair to tip in 69.90‐ 70.20 range today.
  • The Indian rupee was little changed against the dollar in early trade, as foreign banks stepped up greenback sales likely on behalf of exporters, offsetting early losses trigged from sell-off in regional shares amid U.S.‐related uncertainty. Three foreign banks, including two European lenders, sold dollars on behalf of exporters. Markets will also focus on quarter‐end and year‐end inflows.

Global Currency

  • The dollar index a gauge of its value versus six major peers, held steady at 96.90, having risen 1 percent last week as investors shunned riskier assets. In a widely expected move, the U.S. Federal Reserve hiked interest rates by 25 basis points last week for its fourth hike of the year, underpinned by a relatively robust U.S. economy compared with its peers elsewhere.
  • The Japanese yen and the Swiss franc rose on safe‐haven buying on Monday as investors grappled with political instability in the United States and fears of a global economic slowdown. Trading volumes were thinning out with most global markets set to shut for Christmas, while Japan was closed on Monday for a holiday.

Global Markets

  • Oil prices rose more than 1 percent on Monday on signs that the recent price plunge may start crimping supply from the U.S., currently the world's biggest oil producer, though concerns about global economy continues to weigh.
  • Gold prices climbed on Monday, with investor appetite for risk curbed by worries over a partial U.S. government shutdown, Sino‐ U.S. trade tensions and faltering global economic growth. U.S. gold futures GCv1 were up 0.5 percent at $1,264.1 per ounce.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 70.2175 70.2275 0.1
EUR/USD 1.13888 79.97 -0.01
GBP/USD 1.26721 88.98 0.19
USD/JPY 111.103 0.63 -0.1
SEK/INR 9.0449 7.7632 0.0052
DKK/INR 6.2680 11.2025 0.0325
AUD/USD 1.4162 49.57 0.24
1M 2.50625 -0.408  
3M 2.82163 -0.34829  
6M 2.90788 -0.30857  
1Y 3.07313 -0.18343  
Index Today % Change
NIFTY 10742.7 -0.11
SENSEX 35755.34 0.04
BANK NIFTY 26816.05 -0.2
SGX NIFTY 9347.5 0.33
NIKKEI 20166.19 -1.11
HANG SENG 25651.38 -0.4
SHANGHAI 2520.5848 0.17
ASX200 5493.8 0.48
DOW JONES 22445.37 -1.81
S&P500 # 2416.62 -2.06
NASDAQ # 6046.557 -3.15
Key Events of the Day
Date Time Currency Event Forecast Previous

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