Rupee Off Highs On Importers' Dollar Demand

Rupee Off Highs On Importers' Dollar Demand

25 Feb 2019 01:59 PM

Financial Market Overview 

25th February, 2019

 Noon update

 Indian Rupee:- 

  • The Indian rupee came off highs against the dollar in afternoon session, as greenback purchases by importers trimmed early gains triggered after U.S. President Donald Trump said he will delay proposed tariff hikes on Chinese shipments.
  • The rupee changed hands at 71.05 to a dollar against 71.14 at the previous close. The currency opened at 71.02 and has so far traded in a 70.97 - 71.0850 band.

Indian Equities:-

  • Indian shares followed their Asian peers higher after U.S. President Donald Trump confirmed he would delay a planned tariff increase on Chinese imports, allaying fears around global growth.
  • The broader NSE index rose 0.39% to 10,833.70, while the benchmark BSE index gained 0.49% to 36,046.64.

Global Markets:-

  • Asian markets finished higher as of the most recent closing prices. The Shanghai Composite rose 5.60%, Hang Seng gained 0.46% and the Nikkei 225 rose 0.48%.
  • European markets are also higher today. The CAC 40 is up 0.47% while the DAX gains 0.61%. The FTSE 100 is up 0.43% while the IBEX35 is 0.61% higher.
  • The Benchmark Brent crude rose to a fresh three-month high of $67.73 per barrel on Feb. 22, before ending marginally higher at $67.12 per barrel, buoyed by U.S. and China trade talks optimism. It was last trading 0.18% lower at $67.00 per barrel.
  • Trump said that assuming additional progress in the talks, the U.S. will be planning a summit with Chinese President Xi Jinping. The dollar index was trading at 0.1% lower at 96.37, extending Friday’s 0.1% fall.
  • Investors to focus on clarity on Brexit talks after Prime Minister Theresa May postponed a vote in parliament on her Brexit deal to Mar. 12, near the deadline of Mar. 29, when Britain leaves the European Union. Separately, a report by The Telegraph said that May is likely to delay Brexit by up to two months.




Date : 25-Feb-2019