The rupee settled at 71.40 against 71.80 at the previous close. The local unit moved in 71.3750-71.8025 per dollar band intra-day.
Dollar/rupee ended down Friday on likely overseas inflows into local stocks, while easing Sino-US trade war tension further weighed on dollar demand. There were some FII inflows before the long weekend, more to do with the positioning. Also, risk-sentiments improved as US-China tension eased. Local stocks ended Friday's volatile session higher as investors hoped of further announcements by the Finance Minister Nirmala Sitharaman at a press conference scheduled later today amid positive global cues.
The dollar rose to its highest level in nearly a month in early trading on Friday, enjoying continued support from tentative signs of rapprochement in the trade war with China ahead of the long Labor Day weekend. The dollar made some of its strongest gains against the safe haven Swiss franc, which has also lost ground against the euro this week amid continued suggestions that the Swiss National Bank is quietly intervening to counteract the effect of safe haven inflows into the franc from investors spooked by the trade war.
The GBP/USD pair slipped 0.1% to 1.2183 as the looming prospect of a no-deal Brexit kept traders on edge. Prime Minister Boris Johnson decided earlier this week to suspend Britain's parliament for more than a month before Brexit.
Prices of the safe-haven gold traded lower on Friday in Asia after both China and the U.S. indicated that trade talks between the two sides may resume. Gold Futures for December delivery on the Comex division of the New York
Oil gave back some of its recent gains on Friday, but was still headed for the biggest weekly increase since early July, boosted by a decline in U.S stocks, a looming hurricane in Florida and an easing of Sino-U.S. trade rhetoric.
Global Markets at one Glance
Markets at 5.00pm
Key Events of the Day
CPI (YoY) (Aug)
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