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

Indian Rupee Lower Tracking Weak Yuan, Subdued Risk Appetite

26 October 2018 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 73.4250 pair now at 73.38 against 73.2750 previous close.
  • Pair to tip in 73.20- 73.60 range today.
  • The Indian rupee fell against the dollar in early trade, in line with most Asian currencies as the Chinese yuan weakened to near two-year low amid waning appetite for risk assets. Chinese offshore yuan is at a striking distance from falling to a crucial level of 7 against the dollar, dragging most Asian currencies, while risk-off sentiments continue to prevail in regional markets.

Global Currency

  • The dollar traded in tight ranges against most of its peers on Friday as investor appetite for riskier assets remained shaky while the euro stayed near two-month lows after the European Central Bank failed to convince markets that rates would rise. U.S. stocks climbed on Thursday after the massive sell-off of the previous session, though the rebound in stocks failed to meaningfully sustain into the Asian day, which lent support to safe haven currencies.
  • The euro traded flat at $1.1375 on Friday, having hit a two-month low of 1.1353 in the previous session, after ECB President Mario Draghi failed to convince traders that the bank could pursue monetary tightening after next summer.

Global Markets

  • Oil prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
  • Gold prices fell on Thursday on a strong dollar and a rebound of stocks following a multi-day sell-off globally, taking steam out of bullion's momentum.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 73.36 73.37 0.2
EUR/USD 1.13645 83.37 0.11
GBP/USD 1.2816 94.02 0.23
USD/JPY 112.153 0.65 0.44
SEK/INR 9.0027 8.1487 -0.0095
DKK/INR 6.5651 11.17 0.0143
AUD/USD 1.4228 51.55 -0.08
1M 2.29406 -0.40643  
3M 2.508 -0.34771  
6M 2.75975 -0.32257  
1Y 3.03938 -0.20871  
Index Today % Change
NIFTY 10034.2 -0.9
SENSEX 33438.11 -0.75
BANK NIFTY 24629 -0.76
SGX NIFTY 10052 -1.28
NIKKEI 21268.73 -3.72
HANG SENG 24642.93 -1.41
SHANGHAI 2588.6581 -0.58
ASX200 5632.7 -0.55
DOW JONES 24984.55 1.63
S&P500 # 2705.57 1.86
NASDAQ # 7016.389 0
Key Events of the Day
Date Time Currency Event Forecast Previous
26-10-2018 18.00 USD GDP (QoQ) (Q3) 3.3% 4.2%

Share this post?