Rupee falls on greenback demand by oil importers

Rupee falls on greenback demand by oil importers

14 Oct 2019 01:47 PM

Indian Rupee

  • The Indian rupee was lower as greenback demand by oil importers trimmed early gains from a tentative U.S.-China trade deal.
  • The rupee was trading at 71.07 to a dollar against 71.02 at previous close. The local unit rose to a one-week high of 70.76 in opening trade, before declining to 71.09.

Indian Equities

  • Indian shares were trading higher, respectively, tracking gains in Asian peers as risk sentiment improved after the U.S. and China announced a limited trade agreement.
  • The broader NSE index rose 0.51% at 11,363.10 while the benchmark BSE index was up 0.44% at 38,293.78.

Global Markets

  • Asian markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.15% while Japan's Nikkei 225 is up 1.15% and Hong Kong's Hang Seng is up 0.75%.
  • European markets are lower today with shares in France off the most. The CAC 40 is down 0.67% while London's FTSE 100 is off 0.56% and Germany's DAX is lower by 0.52%.
  • Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week's optimism over a U.S.-Sino thaw that helped to lift crude markets by 2% at the end of last week. Brent crude futures fell by 1.36% to $59.69 a barrel.
  • China's yuan jumped to a two-month high against the dollar on Monday, boosted by signs of progress in Sino-U.S. trade negotiations that raised hopes for an end to the long trade war. The spot rate was changing hands at 7.0666.