The rupee settled at 71.72 against 71.84 at the previous close. The local unit moved in 71.5975-71.88 per dollar band intra-day.
Dollar/rupee ended down Friday on improved risk sentiments over optimism on US-China trade war. The rupee was supported by improved risk sentiments amid easing US-China trade tensions. The gain in the Chinese yuan and selling by foreign banks also supported the rupee. China's commerce ministry said that the trade talks in early october were decided during a phone conversation between Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
Global Currency
The dollar edged lower on Friday and was heading for its biggest weekly drop in a month as expectations grew that the Federal Reserve would cut U.S. interest rates this month. The latest risk rally rests on a number of pillars like the recent upbeat U.S. data, receding political risks in the UK and hopes for an abatement of the US-China trade tensions.
Risky currencies including the Australian dollar surged on Friday after China's central bank cut the amount of cash that banks must hold as reserves, with markets also expecting the European Central Bank to unveil more stimulus next week. The PBOC said it was cutting banks' reserve requirements for the third time this year, sending a ripple of optimism through currency markets.
Global Markets
Oil prices fell on Friday as U.S.-China trade tensions continued to weigh on sentiment despite recent diplomatic progress. Brent crude was down 45 cents, or 0.7%, at $60.50 a barrel.
Gold fell 1% on Friday, putting it on track for its second weekly fall, as robust economic data from the United States and the planned resumption of trade talks between Washington and Beijing boosted appetite for riskier assets
Global Markets at one Glance
Markets at 5.00pm
In INR
% Change
USD/INR
71.73
71.73
-0.26
EUR/USD
1.10284
79.08
-0.36
GBP/USD
1.23084
88.22
-0.45
USD/JPY
106.999
0.67
-0.34
SEK/INR
9.6593
7.4260
0.0048
DKK/INR
6.390
11.2250
0.49
AUD/USD
1.4631
49.00
-0.23
DXY
99.25
0.16
Index
Today
% Change
NIFTY
10946.20
0.91
SENSEX
36981.80
0.92
NIKKEI
21199.60
0.54
HANG SENG
26690.80
0.66
0
SHANGHAI
2999.60
0.46
CAC#
5599.42
0.11
FTSE #
7263.34
-0.11
DAX #
12200
0.60
Commodities
Today
% Change
GOLD #
1504
-0.15
SILVER#
18.47
0.82
BRENT #
60.05
-0.73
NYMEX #
55.89
-1.46
Today
Today
OPEN
71.8500
HIGH
71.8800
LOW
71.5975
CLOSE
71.7200
Key Events of the Day
Date
Time
Currency
Event
Actual
Forecast
Previous
6/09/2019
14.00
GBP
Composite PMI (Aug)
50.2
50.7
4/09/2019
14.00
GBP
Services PMI (Aug)
50.6
51.0
51.4
u
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