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India Rupee Snaps 3-Day Fall On Corporate Dollar Sales

9 April 2019 / Evening Brief

Indian Rupee

  • The rupee settled at 69.29 against 69.67 at the previous close. The local unit moved in 69.25-69.73 per dollar band intra-day.
  • The Indian rupee rose for the first time in four sessions, supported by banks’ dollar sales for their corporate clients and strong local shares. Dollar sales likely by a large corporate helped rupee gain more in late trade, while exporters’ greenback sales and upbeat market sentiment in anticipation of likely inflows aided rupee in afternoon session, But key events that will happen tomorrow will keep rupee’s trading range in coming days wide, while any further uptick in oil prices will be closely watched.

Global Currency

  • The dollar was shackled on Tuesday by a combination of weak U.S. economic data and gains for commodity-linked currencies such as the Canadian and Australian dollars which drew support from an extended surge in crude oil prices.
  • The euro is still struggling for direction early Tuesday in Europe amid reports that the U.S. administration is preparing to impose fresh tariffs on European Union in response to what it perceives as unfair subsidies to aerospace giant Airbus. The news is an unwelcome reminder that the settling of one trade war with China may simply free the U.S. up to launch another with its other major trading partner and commercial rival, posing a fresh threat to a world economy that is slowing down.

Global Markets

  • Oil hit a five-month high above $71 a barrel on Tuesday, supported by concern that violence in Libya could further tighten supply, although Russian comments signalling willingness to pump more dampened the rally.
  • Gold edged up Tuesday to hold near its highest in more than a week, supported by a retreating dollar and by increased buying by central banks. Spot gold XAU= was up 0.4 percent at $1,301.64 per ounce.

Global Markets at one Glance

Markets at 5.00pm In INR % Change
USD/INR 69.3 69.3 -0.35
EUR/USD 1.1275 78.17 -0.24
GBP/USD 1.3077 90.60 -0.30
USD/JPY 111.3 0.62 -0.22
SEK/INR 9.2441 7.4967 -0.0126
DKK/INR 6.174 11.2250 0.49
AUD/USD 1.3993 49.53 -0.2
DXY 96.941 -0.11
Index Today % Change
NIFTY 11671.95 0.58
SENSEX 38939.22 0.62
NIKKEI 21802.59 0.19
HANG SENG 30157.49 0.27
SHANGHAI 3239.6639 -0.16
CAC# 5475.97 0.08
FTSE # 7264.61 0.0042
DAX # 11952.04 -0.09
Commodities Today % Change
GOLD # 1301.7803 0.36
SILVER# 15.173 0
BRENT # 71.03 -0.1
NYMEX # 64.47 0.11
Today Today
OPEN 69.5900
HIGH 69.7300
LOW 69.2500
CLOSE 69.2900

Key Events of the Day

Date Time Currency Event Actual Forecast Previous

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