Indian rupee rises the most In 2 Months

Indian rupee rises the most In 2 Months

20 Aug 2018 06:51 PM
Myforexeye Research Report
Financial Market Overview

20th August, 2018

Evening Coffee:-                                                                                  



  • Indian rupee rebounded from last week’s record low to log its biggest single-session rise in nearly two months against the dollar, as risk appetite was buoyed by optimism ahead of trade talks between the U.S. and China likely this week. Bunched-up dollar inflows after a long weekend also added to gains in the rupee.
  • The rupee settled at 69.82 to a dollar, highest since Aug. 10, and off its record close of 70.15 on Aug. 16. It had hit an intraday low of 70.40 on the same day. The domestic currency moved in a 69.59-69.87 to dollar band today and rose 0.47%, marking its best daily advance since Jun. 29.

Indian Equities:-

  • Indian shares rose on Monday to record closing levels, driven by Larsen & Toubro on a buyback proposal, while Infosys Ltd declined following the resignation of its chief financial officer.
  • The benchmark BSE index closed 0.87 percent higher at 38,278.75, while the broader NSE index ended up 0.71 percent at 11,551.75.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 1.41% and the Shanghai Composite rose 1.11%. The Nikkei 225 lost 0.32%.
  • European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.04% while France's CAC 40 is up 0.68% and London's FTSE 100 is up 0.39%.
  • Most Asian currencies were trading higher, including the Chinese yuan, which was poised for a third day of advance. It rose 0.3% to 6.8541 against the dollar ahead of lower-level trade talks between Chinese and U.S. officials in Washington, which were scheduled for tomorrow and day after.
  • The Turkish lira, which fell to a record-low last week, was trading slightly lower at 6.08 despite global rating agencies such as Moody’s and S&P downgrading Turkey’s sovereign credit ratings to "junk". Financial markets in Turkey will be closed from Aug. 21-Aug. 24 for national holiday.

Date : Aug-2018