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USD/INR ends at 3-week low on weak dlr, FII inflows into local stocks

28 May 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.6850 against 69.4950 at the previous close. The local unit moved in 69.60 -69.7225 per dollar band intra-day.
  • Dollar/rupee ended at three-week low Monday on selling by foreign banks tracking an overall weakness in the greenback and helped by FII inflows into local stocks. Few foreign banks sold dollars, although mostly remained on a hibernating mode as the US market remain closed today. The greenback is weak after a set of dismal economic data. Also, FII injected funds into local equities. Dollar/rupee ended at Rs 69.49/$1 Monday, level alst seen on May 7, 2019 compared to its previous close of Rs 69.52/$1

Global Currency

  • The euro dipped on Tuesday as investors nervous about trade tensions bought into the safe-haven dollar and fretted that political risks in Europe remain high, even though pro-Europe parties won a majority of European parliamentary seats.
  • The pound fell most notably yesterday and the strong showing by the Brexit Party has fuelled speculation of a shift toward a Hard Brexit departure from the EU on 31st October," MUFG analysts said, referring to the Brexit Party topping the polls in Britain at the European parliamentary election. GBP=D3 as candidates to succeed British Prime Minister Theresa May laid out some of their Brexit plans.

Global Markets

  • Gold edged away from the previous session's one-week peak on Tuesday as the dollar regained momentum as the preferred safe-haven from uncertainty over U.S.-China trade tensions, while weakness in equity markets limited losses for the metal.
  • Oil prices rose on Tuesday, supported by tighter global supplies that have helped to offset persistent worries that demand will be hurt by the continuing U.S.-Chinese trade conflict.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.685 69.685 0.29
EUR/USD 1.1192 77.99 0.24
GBP/USD 1.26696 88.26 0.22
USD/JPY 109.427 0.64 0.36
SEK/INR 9.5499 7.2980 0.0439
DKK/INR 6.209 11.2250 0.49
AUD/USD 1.4435 48.27 0.1
DXY 97.78 0.16
Index Today % Change
NIFTY 11928.75 0.03
SENSEX 31597.90 -0.16
NIKKEI 21260.14 0.37
HANG SENG 27359 0.40
SHANGHAI 2909.91 0.61
CAC# 5319.6 -0.28
FTSE # 7289.95 0.17
DAX # 12052.7 -0.06
Commodities Today % Change
GOLD # 1282 -0.22
SILVER# 14.48 -0.72
BRENT # 70.08 -0.07
NYMEX # 59.03 -0.17
Today Today
OPEN 69.6500
HIGH 69.7225
LOW 69.6000
CLOSE 69.6850

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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