Rupee ended the session on higher note on Exporters Dollar sales

Rupee ended the session on higher note on Exporters Dollar sales

19 Oct 2018 05:45 PM
Myforexeye Research Report

Financial Market Overview

19th October, 2018

Evening Coffee:-                                                                                  



  • The rupee settled at 73.32 to a dollar, its highest since Oct. 1, against 73.60 at previous close. The currency fell to 73.65 after opening flat, before rebounding to the day’s high of 73.30 in late trade, helped by remittance inflows and exporters’ dollar sales.
  • India's foreign exchange reserves fell to $394.47 billion as of Oct 12, compared with $399.61 billion a week earlier, the Reserve Bank of India said on Friday.

Indian Equities:-

  • Indian shares fell over 1 percent for the second consecutive session on Friday, dragged by Reliance Industries Ltd after its second-quarter performance failed to please investors, while non-banking finance companies continued to face selling pressure.
  • The benchmark BSE index closed down 1.33 percent at 34,315.63. The broader NSE index ended 1.43 percent lower at 10,303.5.5

Global Markets:-

  • European markets are mixed today. The SMI is up 0.59% , the London's FTSE100 gains 0.48%, the Germany's DAX advances 0.14%, the Eurozone's STOXX500 is mildly higher by 0.03% while the France's CAC is off 0.49% the Spain's IBEX35 is trading lower by 0.37%.
  • The euro’s fall on renewed concerns over Brexit deal earlier this week and after the European Union criticized the Italy’s proposed budget yesterday, also added to gains in the greenback. The single currency was inching close to its two-month low of $1.1432 and was last trading at $1.473.
  • The benchmark Brent crude oil contract remained below $80 per barrel earlier this week and was set to post a weekly decline for the second straight week, as U.S. Crude inventories last week jumped 6.5 million barrels. The contract was last at $80.20, moving further away from a multi-year high of $86.74 hit at the beginning of this month.
  • The Chinese yuan was trading slightly higher at 6.9298 against the dollar after closing at its lowest level since January 2017 in the previous session. The dollar index was trading little changed after Fed’s September meeting minutes showed policymakers broadly agreed on the need to raise interest rates further.



Date : Oct-2018

Recommended for you...