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India Rupee Falls On Poor Risk Sentiments; RBI Revises FPI Limit

28 March 2019 / Morning Brief

Indian Rupee

  • The Indian rupee little changed at 69.11 pair now at 69.00 against 68.87 previous close.
  • Pair to tip in 68.80-69.20 range today.
  • The Indian rupee fell against the dollar in early trade, as increasing concerns about global growth slowdown weighed on investors’ appetite for risk assets. Rupee gave up some of its losses in early trade on dollar sales by foreign banks, while RBI’s move to increase foreign investment limit in bonds is also seen in favour of the local unit. Importers’ demand for the greenback may keep the rupee under pressure.

Global Currency

  • The dollar rose on Thursday as many of its peers weakened after more central banks opted to shift to a dovish policy stance in the wake of deteriorating economic prospects. The dollar index against a basket of six major currencies was 0.17 percent higher at 96.942 .DXY and headed for its third day of gains.
  • The euro was a touch higher at $1.1252 EUR= . The single currency has still lost 0.45 percent this week with the benchmark 10-year bund yield having fallen to 2-1/2-year low of minus 0.09 percent. The euro's upside was limited after European Central Bank President Mario Draghi said a hike in interest rates could be further delayed.

Global Markets

  • Oil prices slumped on Wednesday after government data showed U.S. crude inventories grew more than expected last week as a Texas chemical spill hampered exports. Crude exports fell by 506,000 barrels per day, the EIA said.
  • Gold prices rose on Wednesday to their highest level in around a month as investors continued to focus on fears of a possible recession in the United States. Meanwhile, spot gold was trading at $1,317.15 per ounce, up $1.41, or 0.1%.

Global Markets at one Glance

Markets Today In INR % Change
USD/INR 69.01 69.02 -0.11
EUR/USD 1.12526 77.65 -0.1
GBP/USD 1.31903 91.02 -0.50
USD/JPY 110.181 0.63 0.18
SEK/INR 9.2729 7.4421 -0.0023
DKK/INR 6.1602 11.2025 0.0325
AUD/USD 1.4087 48.97 -0.08
1M 2.4955 -0.41671  
3M 2.59738 -0.34286  
6M 2.68213 -0.29871  
1Y 2.72463 -0.17471  
Index Today % Change
NIFTY 11512.05 0.59
SENSEX 38344.81 0.56
BANK NIFTY 30153.8 0.45
SGX NIFTY 9347.5 0.33
NIKKEI 21378.73 -0.23
HANG SENG 28736.13 0.03
SHANGHAI 3014.8255 -0.26
ASX200 6172.6 0.6
DOW JONES 25625.59 -0.13
S&P500 # 2805.37 -0.46
NASDAQ # 7308.193 0
Key Events of the Day
Date Time Currency Event Forecast Previous
28-03-2019 18.00 USD GDP (QoQ) (Q4) 2.4% 2.6%
28-03-2019 19.30 USD Pending Home Sales (MoM) (Feb) 0.1% 4.6%

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