The rupee settled at 69.34 against 68.87 at the previous close. The
local unit moved in 68.9350-69.3550 per dollar band intra-day.
The Indian rupee fell to a two-week low against the dollar, as
concerns over slowing global growth and slump in the Turkish lira
dented investors’ appetite for risk assets. A correction in emerging
market currencies was anticipated and this has been triggered due to
global risk aversion that impacted rupee, while battered Turkish lira
is also proving negative for the emerging market currencies.
However, some pressure on the local currency eased, rupee liquidity
in the financial year-end would have sold off dollars earlier today.
The dollar rose on Thursday as rival currencies struggled following
more dovish soundings from central banks, while the yen gained as
investor worries grew. The dollar index against a basket of six major
currencies gained 0.3 percent to 97.028 .DXY and headed for its third
day of gains.
The euro is flat against the dollar at $1.1250, testing a two-week low.
The dollar index, which measures the greenback against a basket of
six major currencies, was at 96.535, up around 0.3% from late
trading in the U.S. on Wednesday. Sterling has refused to panic,
however, and was back at $1.3154 against the dollar and 1.1702
against the euro, having dipped briefly after the vote.
Gold prices edged down on Thursday in Asia as the U.S. dollar gained
on uncertainties around Brexit and Sino-U.S. trade talks. Gold
Futures traded on the Comex division of the New York Mercantile
Exchange were down 0.1% to $1,316.25 per ounce.
Oil prices were down on Thursday, extending losses into a second
consecutive session following a surprise rise in U.S. crude
Global Markets at one Glance
Markets at 5.00pm
Key Events of the Day
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