Rupee Ended Higher Indian Forex Reserves Fall Below $400 Bln

Rupee Ended Higher Indian Forex Reserves Fall Below $400 Bln

14 Sep 2018 06:11 PM
Myforexeye Research Report

Financial Market Overview

14th September, 2018

Evening Coffee:-



  • The rupee ended higher at 71.8450 to a dollar, highest since Sep. 7, against 72.19 at close on Sep. 12. It rose to 71.51 intraday before paring gains as traders covered short dollar positions, wanting to square off open positions for the weekend, ahead of Prime Minister Narendra Modi’s upcoming economic review meeting.
  • India's foreign exchange reserves fell to $399.28 billion as of the week ended Sep.7, falling below the $400-billion mark for the first time since week ended Nov. 17, 2017, according to central bank data released today.


Indian Equities:-

  • Indian shares ended higher for a second session on Friday, as investors sentiment turned positive after government officials said Prime Minister Narendra Modi will hold a meeting later in the day with finance ministry to discuss economic issues.
  • The Sensex ended up 372.68 points or 0.99% at 38090.64, while the Nifty closed higher by 145.30 points or 1.28% at 11515.20. The market breadth is positive as 1,797 shares advanced, against a decline of 834 shares, while 183 shares were unchanged.


Global Markets:-

  • European markets are higher today. The London's FTSE100 is higher by 0.28%, the DAX up by 0.24%, the Spain's IBEX35 down by 0.03%, the CAC40 is higher by 0.22% and the SMI is fall by 0.05%.
  • The benchmark Brent crude oil contract fell almost 2% overnight on demand concerns amid ongoing trade dispute between U.S. and China. It was last trading little changed at $78.20 per barrel and up almost 2% so far for the week.
  • The dollar index was last trading little changed after closing at its lowest level in one-and-a-half month yesterday, following soft U.S inflation data. The index was headed to close about a percent lower for the week.
  • The Chinese yuan was trading off almost 0.2% against the dollar to 6.8521, a day after having rallied on the back of a U.S. invitation to Chinese officials for resuming high-level trade talks.
  • Turkey’s central bank raised its benchmark rate by a sharp 625 basis points yesterday, boosting the lira and supporting appetite for emerging market currencies.



Date : Sep-2018