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India Rupee Slips As Crude Prices Surge; Corporate Dlr Sales Aid

27 March 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 68.99 pair now at 68.87 against 68.86 previous close.
  • Pair to tip in 68.75-69.10 range today.
  • The Indian rupee was slightly lower against the dollar in early trade, as crude oil prices breached the $68 per barrel level, increasing concerns about widening of the nation’s trade deficit. However, some dollar sales by state-run and private banks, likely on behalf of their corporate clients, limited further losses. However, a large staterun bank and some private lenders sold dollars, likely for corporates. Offers related to currency expiry, due today, will also be watched for further cues.

Global Currency

  • The dollar edged higher on Wednesday and antipodean currencies beat a hasty retreat after the Reserve Bank of New Zealand surprised the markets by opening the door to future monetary policy easing. The dollar index versus a basket of six major currencies was up 0.2 percent at 96.912 .DXY , adding to modest gains made overnight.
  • The euro lost 0.1 percent to $1.1255 extending overnight losses. The currency has been on shaky ground after Friday's weaker-thanexpected German manufacturing survey raised concerns about Europe's largest economy. The pound edged down 0.15% to $1.3185 retracing its earlier gains in the face of the broadly stronger dollar.

Global Markets

  • Oil prices crept up on Wednesday, extending the previous session's rise, but gains were kept in check amid growing fears over the impact of a global economic slowdown on demand. U.S. crude futures added 9 cents to $60.03, also reversing losses in earlier trade
  • Gold inched up on Wednesday, after falling the most in nearly two weeks in the previous session, as share markets retreated on worries about a possible U.S. recession and weak data added to concerns about the economy.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 68.879 68.89 -0.15
EUR/USD 1.12557 77.53 -0.27
GBP/USD 1.31872 90.83 -0.26
USD/JPY 110.62 0.63 -0.15
SEK/INR 9.2622 7.4366 -0.024
DKK/INR 6.1485 11.2025 0.0325
AUD/USD 1.4083 48.90
1M 2.48975 -0.41471  
3M 2.60875 -0.33457  
6M 2.673 -0.297  
1Y 2.74575 -0.18029  
Index Today % Change
NIFTY 11522 0.34
SENSEX 38397.11 0.43
BANK NIFTY 30049.55 0.56
SGX NIFTY 9347.5 0.33
NIKKEI 21428.39 2.15
HANG SENG 28717.32 0.53
SHANGHAI 3013.5676 0.55
ASX200 6127.4 -0.05
DOW JONES 25657.73 0.55
S&P500 # 2818.46 0.72
NASDAQ # 7351.15 0
Key Events of the Day
Date Time Currency Event Forecast Previous
27-03-2019 20.00 USD Crude Oil Inventories -1.200M -9.589M

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