Rupee ends lower on importers' dollar demand

Rupee ends lower on importers' dollar demand

11 Jan 2019 06:21 PM

Financial Market Overview

11th January, 2019

Evening coffee

Indian Rupee:-

  • The Indian rupee ended lower against the dollar on greenback demand from state banks likely on behalf of importers, erasing early gains tracking dovish comments from the U.S. Federal Reserve chief.
  • The rupee ended at 70.4850 per dollar, its lowest since Dec. 17, against previous close of 70.4125. It fell to an intra-day low of 70.5850.

 Indian Equities:-

  • Indian shares settled lower on Friday as disappointment over technology giant Tata Consultancy Services missing quarterly margin estimates weighed on the trading sentiment, while investors looked out for results from its rival Infosys Ltd for clarity.
  • The benchmark BSE index closed the session 0.27% lower at 36,009.84, while the broader NSE index ended down 0.25% at 10,794.95.

 Global Markets:-

  • European markets are lower today with shares in Germany off the most. The CAC 40 is down 0.58% while Germany's DAX is off 0.48% and London's FTSE 100 is lower by 0.21%.
  • The benchmark Brent crude oil contract rose to $61.91 per barrel overnight, highest since Dec. 13, and was last trading at $61.85.
  • Sterling slipped off session highs against the dollar after a spokeswoman for British Prime Minister Theresa May ruled out to delay the country's exit from the European Union. The pound had strengthened more than half a percent to trade as high as $1.2850 after the Evening Standard cited cabinet ministers as saying Britain could seek to delay its scheduled departure date from the European Union. But it came off those levels after the denial to trade at $1.28, up 0.3% on the day.
  • The dollar index was trading lower at 95.25, erasing overnight gains of 0.3%, after Federal Reserve Chairman Jerome Powell said that tepid inflation allowed the Fed flexibility on interest rates. Investors now await the U.S. inflation data due later today.






Date : 11-Jan-2019

Recommended for you...