Rupee off lows as Dollar sales offset importers demand

Rupee off lows as Dollar sales offset importers demand

18 Jan 2018 03:24 PM
Myforexeye Research Report

Financial Market Overview

18th January, 2018

Noon Update:-                                                                                  



  • Indian rupee came off day’s low against the dollar in afternoon trade, as banks stepped up greenback sales for their custodian clients and local shares continued their record run, tempering losses triggered by demand from refiners and other importers.
  • The rupee was last seen at 63.8075 to a dollar , against 63.88 at close yesterday. The domestic currency has so far moved in a 63.7550 to 63.94 band, swinging between gains and losses. Most Asian currencies were mixed against the dollar.

Indian Equities:-

  • Benchmark indices came off day's high in afternoon, with the Sensex trading higher  Metals, oil & gas and PSU banks stocks dragged while private banks and select technology stocks continued to support the market.
  • The Sensex is up 256.87 points or 0.73% at 35388.10, and the Nifty gains 53.25 points or 0.49% at 10841.90.

Global Markets:-

  • European markets are mixed today. The DAX is up 0.21% while the CAC 40 gains 0.08%. The FTSE 100 is off 0.20%.
  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.87% and the Hang Seng rose 0.43%. The Nikkei 225 lost 0.44%..
  • The dollar index, which measures the greenback against a basket of six major currencies, ended up 0.16% in overnight trade, and was last trading 0.3% higher, tracking overnight fall in the euro after European Central Bank officials raised concerns over strength in the single currency. The single currency was last trading little changed after dropping 0.6% yesterday.
  • ECB policymaker Ewald Nowotny told reporters yesterday that the euro's recent strength against the dollar is “not helpful”.
  • The euro had risen to a three-year high of $1.2322 yesterday, amid bets that ECB would soon begin trimming its massive monetary policy stimulus.

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