Rupee Falls On Foreign Banks’ Dollar Bids, Weak Asian Peers

Rupee Falls On Foreign Banks’ Dollar Bids, Weak Asian Peers

17 Jan 2019 01:55 PM

Financial Market Overview

17th January, 2019

Noon update

Indian Rupee:-

  • The Indian rupee extended fall against the dollar in afternoon trade, on greenback demand by foreign banks, likely for custodian clients amid weakness in regional currencies.
  • The rupee changed hands at 71.32 to a dollar, against 71.24 at yesterday’s close. It opened at 71.15 and extended gains to 71.14 before falling to the day’s low of 71.40.

 Indian Equities:-

  • Indian shares were little changed in afternoon trade, with financial and energy stocks gaining for a second session, as investors turned their attention to corporate earnings.
  • The broader NSE index was up 0.03% to 10,893.25, while the benchmark BSE index was up 0.01% to 36,326.46.

 Global Markets:-

  • Asian markets finished lower on Wednesday with shares in Hong Kong leading the region. The Hang Seng is down 0.65% while China's Shanghai Composite is off 0.42% and Japan's Nikkei 225 is lower by 0.20%.
  • European markets are also lower today. The CAC 40 is down 0.66% while London's FTSE 100 is down 0.49% and Germany's DAX is down 0.77%.
  • Uncertainty in outlook over China’s economic growth and trade jitters weighed on emerging market currencies today. Most Asian currencies traded lower against the dollar, losses being led by the Indonesian rupiah.
  • The dollar index was trading little changed at 96.13, after gaining in last two sessions. The British pound was trading little changed, after rising in the previous session after U.K. Prime Minister Theresa May survived a no-confidence motion, despite failing to get her plan cleared.
  • The benchmark Brent crude oil contract edged 0.62% lower at $60.94 per barrel on higher U.S. crude production.







Date : 17-Jan-2019