The rupee settled at 69.9950 against 70.28 at the previous close. The
local unit moved in 69.95 -70.14 per dollar band intra-day.
Dollar/rupee ended two months low on Thursday on likely FII inflows
into the local stocks amid subdued dollar after release of weak US
economic data. Rupee ended up on selling by banks on behalf of
overseas investors who bought into local stocks. Also dollar
remained subdued after disappointing US economic data realease.
Local stocks indices ended Thursday's lacklustre session marginally
higher as most of the concerns that led to underperformance this
year have been result of rising oil prices and political uncertainty
have hit their peak in terms of negativity.
The yen rose one tenth of a percent to 111.65 yen per dollar JPY= ,
while the Swiss franc was also up 0.1 percent, at 1.0043 francs per
dollar. The dollar index, which measures the greenback against a
basket of six key rivals, was steady at 96.852 .DXY .
The euro paused just off three-week lows versus the dollar on
Thursday's European Central Bank's meeting, which many hope will
signal fresh stimulus for the economy and inject some life into
currencies stuck in trading ranges. The ECB is expected to cut growth
forecasts and is likely to provide its strongest signal yet that stimulus
is coming in the form of more cheap long-term bank loans to fight an
Oil prices crept up on Thursday amid ongoing OPEC-led supply cuts
and U.S. sanctions against exporters Venezuela and Iran, but gains
were capped by record U.S. crude output and rising commercial fuel
Gold prices steadied on Thursday ahead of a European Central Bank
(ECB) policy meeting expected to present a cut in economic growth
forecasts, with investors also awaiting U.S. jobs data.
Global Markets at one Glance
Markets at 5.00pm
Key Events of the Day
Share this post?
Download RouteForex Mobile App
And Track Your Entire Portfolio
Request a Call Back
Your submission is received and our Expert will contact you soon