Offers & Promotions Download Brochure Get a Call Back Download App
Contact us

India Rupee Falls As Indo-Pak Tensions Escalate

26 February 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 71.26 pair now at 71.1550 against 70.9750 previous close.
  • Pair to tip in 71.00-71.40 range today.
  • The Indian rupee fell to over one-week low against the dollar in early trade amid concerns over escalation of a geopolitical conflict between India and Pakistan. The rupee is down following news reports that the Indian Air force crossed the line of control frontier in Kashmir, increasing geopolitical risks. However, we spotted two private lenders selling dollars at around 71.33-71.34 levels which could be on the instructions of the central bank. Traders also squareoff some of their long dollar positions in opening trade.

Global Currency

  • The safe-haven dollar and yen slid on Monday as risk appetite increased after U.S. President Donald Trump said he would delay a planned hike in tariffs on Chinese imports, suggesting trade negotiations between the two countries have made significant progress. The U.S. deadline set earlier for imposing higher tariffs on Chinese goods was March 1.
  • The pound jumped to a near four-week peak against the dollar on Tuesday on reports of a delayed Brexit deadline, and the safe-haven yen moved off the weakest seen this year as a drop in U.S. equity futures checked investors' risk appetite. Sterling spiked to its highest against the U.S. currency.

Global Markets

  • Oil prices slipped on Tuesday, extending losses of more than 3 percent during the previous session, after U.S. President Donald Trump called on OPEC to ease its efforts to boost the market. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $55.19 per barrel, down 29 cents, or 0.5 percent.
  • Gold prices traded flat in a tight range on Monday as investors awaited a batch of key U.S. economic data and an appearance from Federal Reserve chairman Jerome Powell.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 71.1575 71.1675 0.48
EUR/USD 1.13624 80.84 0.47
GBP/USD 1.3137 93.48 0.63
USD/JPY 110.799 0.64 0.73
SEK/INR 9.3122 7.6413 0.0361
DKK/INR 6.3519 11.2025 0.0325
AUD/USD 1.3968 0.43
TIME USD LIBOR EURO LIBOR  
1M 2.48438 -0.413  
3M 2.64625 -0.33643  
6M 2.706 -0.292  
1Y 2.89163 -0.16114  
Index Today % Change
NIFTY 10745.3 -1.24
SENSEX 35774.42 -1.21
BANK NIFTY 26775.9 -1.41
SGX NIFTY 10747 -1.35
NIKKEI 21528.23 0.48
HANG SENG 28810.62 -0.51
SHANGHAI 2973.7059 0.42
ASX200 6114 -1.17
DOW JONES 26091.95 0.23
S&P500 # 2796.11 0.12
NASDAQ # 7115.426 0.35
Key Events of the Day
Date Time Currency Event Forecast Previous

Share this post?