Rupee Off Lows On Exporters’ Dollar Sales, Upbeat Shares

Rupee Off Lows On Exporters’ Dollar Sales, Upbeat Shares

17 May 2019 02:11 PM
 

Financial Market Overview

 17th May, 2019

 Afternoon Update

 Indian Rupee

  • The Indian rupee came off lows against the dollar in afternoon trade, as exporters stepped up greenback sales and local shares climbed ahead of exit polls at home.
  • The rupee changed hands at 70.13 to a dollar against 70.0250 at the previous close. It opened at the day’s low of 70.26 and rose to the day’s high of 70.09.

Indian Equities

  • The Indian rupee came off lows against the dollar in afternoon trade, as exporters stepped up greenback sales and local shares climbed ahead of exit polls at home.
  • The rupee changed hands at 70.13 to a dollar against 70.0250 at the previous close. It opened at the day’s low of 70.26 and rose to the day’s high of 70.09.

Global Markets

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.89%, while the Shanghai Composite led the Hang Seng lower. They fell 2.48% and 1.06% respectively.
  • European markets are lower today with shares in Germany off the most. The DAX is down 0.56% while France's CAC 40 is off 0.24% and London's FTSE 100 is lower by 0.23%.
  • The nearest month Brent crude oil contract remained firm above $72 per barrel amid rising tensions in the Middle East. The contract was last trading little changed at $72.82.
  • The dollar gained 0.3% against its major peers yesterday following upbeat U.S. new-home construction data and weekly jobless claims report that showed labour market strength.
  • In recent trade talk developments, the Chinese state media pointed that the U.S. is not interested in resuming trade talks with China. The comments follow U.S. government’s announcement of severe sanctions on Chinese telecom giant Huawei.
  • The on-shore Chinese yuan slipped below the key psychologically important level of 6.9 per dollar to 6.9125 mark while dollar index traded little changed at 97.80.

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