The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index on hopes that a likely strong earnings season in the U.S. and a slew of economic data releases this week will counter the coronavirus-induced downturn.
The rupee was quoted at 75.19 to the dollar compared with 75.20 at 2.00 p.m. on Friday.
Reliance Industries yesterday announced its 13th consecutive deal for stake sales in its digital arm. U.S.-based Qualcomm Inc will invest 730 crore rupees, or $97 million, in Jio Platforms for a 0.15% stake.
The dollar index slipped 0.1%, adding to last week’s 0.5% fall. The decline in the gauge came ahead of a raft of incoming global economic data and U.S. corporate earnings to gauge whether a rally in equity markets due to the economic outlook is justified.
Traders' focus this week will be on economic data out of the U.S. and China and earnings of U.S. banks, which would help in assessing the economic impact of the coronavirus pandemic. China’s June-quarter gross domestic product data is due Thursday alongside last month’s activity and spending data. U.S. retail sales numbers, a key gauge of consumption, are also due on Thursday.
11 Aug 2020 02:42 PM
The Indian rupee logged its best day against the dollar in three weeks, tracking buoyant risk appetite in the region
11 Aug 2020 02:13 PM
The British pound held near five-month highs on Tuesday against a broadly steady greenback even as data showed job losses in Britain spiked
11 Aug 2020 11:48 AM
India's Nifty 50 index hit a five-month high on Tuesday as signs of a recovery in Chinese economic activity powered gains in metal stocks, with less worse-than-feared domestic earnings reports also helping sentiment amid a rise in coronavirus cases.
11 Aug 2020 10:46 AM
Gold fell on Tuesday as the dollar firmed after Beijing slapped sanctions on U.S. officials in the latest flare-up in tensions between Washington and Beijing, with investors also keeping a close watch on negotiations over a U.S. stimulus plan.
11 Aug 2020 10:34 AM
The Indian rupee was at 74.83/74.84, against 74.8925/74.9025 in the previous session
11 Aug 2020 09:46 AM
Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.