Rupee Off Lows As Bunched-Up Inflows Trim Early Losses

Rupee Off Lows As Bunched-Up Inflows Trim Early Losses

22 Apr 2019 02:31 PM
 

Financial Market Overview

 22ndApril 2019

 Afternoon Update

 Indian Rupee 

  • The Indian rupee came off lows against the dollar in afternoon trade, as banks sold the greenback leading to bunched-up inflows that trimmed initial losses from higher crude oil prices.
  • The rupee was trading at 69.50 to a dollar against at 69.36 at close on Apr. 18. The currency opened lower at 69.75 and extended losses to 69.87, its lowest since March 11.

Indian Equities

  • The broader NSE index was down 0.79 percent at 11,634.15, while the benchmark BSE index was 0.7 percent lower at 38,800.31.
  • The indexes were on track to snap four straight sessions of gains, but may end the truncated week around 1 percent higher.

Global Markets

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.08%, while the Shanghai Composite led the Hang Seng lower. They fell 1.70% and 0.54% respectively.
  • European markets finished mixed as of the most recent closing prices. The DAX gained 0.57% and the CAC 40 rose 0.31%. The FTSE 100 lost 0.15%.
  • The benchmark Brent crude oil prices rose to nearly six-month high of $74.31 per barrel on reports that Washington is set to announce that all imports of Iranian oil must end or be subject to U.S. sanctions
  • The dollar index was trading little changed today, after shedding 0.1% in the previous session.
  • The dollar edged up against key peers such as the euro and the yen on Monday, boosted by the relative strength of the U.S. economy, while losing ground against the Canadian dollar following a rise in crude oil prices.
  • The euro gave up nearly 0.1 percent to $1.1240, adding to last week's losses of nearly half a percent after data on Thursday showed that activity in Germany's manufacturing sector shrank for a fourth straight month in April.