The USDINR NDF is currently trading at 72.39/40.
The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.4% to 14,740.
The dollar nursed losses near a six-week low on Tuesday while commodity currencies loitered around multi-year highs, as investors' focus shifted to how U.S. Federal Reserve chief Jerome Powell might respond to resurgent inflation expectations.
The U.S. dollar index traded at 90.019 on Tuesday, just above its lowest since mid-January.
The euro made a small gain to $1.2165 and is poised to re-test resistance around $1.2220. Sterling, which has rallied nearly 3% this year as a speedy vaccine rollout has inspired confidence in the prospect of a British economic rebound, held above $1.40 at $1.4067. The Japanese yen, which has been the worst-performing major currency of 2021 because it is sensitive to tumbling U.S. Treasury prices, steadied at 105.02 per dollar.
Brent crude oil futures rise $1 to $66.24 per barrel.
05 Mar 2021 06:06 PM
Key factors to keep in mind before the US markets open
05 Mar 2021 05:08 PM
India's foreign exchange reserves rose to $584.55 billion as of Feb 26, compared with $583.87 billion a week earlier, the Reserve Bank of India.
05 Mar 2021 04:36 PM
Have a look at how Indian rupee ended the day
05 Mar 2021 03:51 PM
Indian equities fell for a second straight session today and snapped their three-day gaining streak as investors remained spooked by a sharp rise in US yields. Sensex managed to hold 50,000 and closed below 441 points, but Nifty gave up 15,000.
05 Mar 2021 03:00 PM
Pound fell and traded around 1.3830 as Dollar extended gains following Powell’s dovish comments leading to an upward rally in US yields.
05 Mar 2021 02:56 PM
Find out how European markets are reacting today