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USD/INR ends at 2-month low on likely FPI inflows into local debt

27 June 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.06 against 69.15 at the previous close. The local unit moved in 69.06-69.3175 per dollar band intra-day.
  • Dollar/rupee ended at two-month low Thursday on likely overseas fund inflows into local debt amid improved risk-appetite on hopes of US-China trade deal in the upcoming G20 meet. Foreign banks sold dollars today mostly for FPIs investing in local government debt segment," said a dealer with a public sector bank. After positive news on the US-China trade truce and upbeat comments from President Trump also helped the local currency. Dollar/rupee ended at intraday low of Rs 69.06/$1 Thursday, level last seen on April 11, 2019 compared to previous close of Rs 69.15/$1.

Global Currency

  • The dollar held on to gains made in its recovery from recent lows on Thursday on hopes that the United States and China will agree to a trade truce before a G20 summit this weekend, although investor sentiment remained fragile. The dollar rose to as high as $1.1347 earlier but was flat on the day at $1.1367.
  • The Fed also faces pressure from Trump to lower rates at a time when the president has attacked European Central Bank plans to inject more stimulus and possibly ease policy. Sterling rose 0.2% to $1.2714 GBP=D3 after Boris Johnson, the frontrunner to replace Theresa May as British prime minister, said that the chance of a no-deal Brexit was "a million-to-one.

Global Markets

  • Oil prices rose on Wednesday, buoyed by an outage at a major refinery on the U.S. East Coast and industry data that showed U.S. crude stockpiles fell more than expected.
  • Gold prices slipped more than 1% on Wednesday, moving away from a six-year peak hit on the previous day, as U.S. Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.07 69.07 -0.17
EUR/USD 1.13792 78.60 -0.13
GBP/USD 1.27057 87.67 -0.14
USD/JPY 107.829 0.64 -0.26
SEK/INR 9.2729 7.4486 -0.0253
DKK/INR 6.153 11.2250 0.49
AUD/USD 1.4298 48.30 -0.24
DXY 96.17 -0.04
Index Today % Change
NIFTY 11841 -0.05
SENSEX 39586 -5.67
NIKKEI 11338 1.19
HANG SENG 28603 1.38
SHANGHAI 2996 0.69
CAC# 5482 -0.33
FTSE # 7411 0.09
DAX # 12245 0.00
Commodities Today % Change
GOLD # 1405 -0.38
SILVER# 15.22 -0.44
BRENT # 65.75 -1.11
NYMEX # 58.78 -1.01
Today Today
OPEN 69.2600
HIGH 69.3175
LOW 69.0600
CLOSE 69.0600

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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