Rupee Stays Down On State Run Banks’ Dollar Buy

Rupee Stays Down On State Run Banks’ Dollar Buy

15 Oct 2019 01:31 PM

Indian Rupee

  • The Indian rupee eased against the dollar in thin afternoon trade on dollar demand from state-run banks, adding to an early fall triggered by a weaker yuan.
  • The rupee was trading at 71.34 to a dollar against 71.23 at previous close. It opened little changed at 71.24 and fell to an over three-week low of 71.37.

Indian Equities

  • Indian shares were higher on Tuesday, as investors hoped for further rate cuts from the central bank to tackle the economic slowdown amid a rise in inflation during the last month.
  • The broader NSE index was up 0.59% at 11,404.00, while the benchmark BSE index was 0.59% higher at 38,439.42.

Global Markets

  • Asian markets finished mixed today with shares in Japan leading the region. The Shanghai Composite is down 0.56% while Japan's Nikkei 225 is up 1.87% and Hong Kong's Hang Seng is down 0.11%.
  • European markets are higher today with shares in France leading the region. The CAC 40 is up 0.74% while Germany's DAX is up 0.59% and London's FTSE 100 is up 0.06%.
  • Crude oil prices fell after weak Chinese economic data for September added to lingering concerns about the feasibility of the U.S.-China trade deal. The benchmark Brent crude contract was down 0.64% at $58.97 per barrel.
  • Most Asian currencies edged lower against the dollar today as hopes of a breakthrough in the U.S.-China trade negotiations waned on reports a deal was not yet finalised. The onshore Chinese yuan was down 0.1% at 7.0770 per dollar.
  • The dollar index yesterday rose 0.2%, snapping three sessions of losses, amid safe-haven demand in light of waning optimism about Sino-U.S. trade. It was last trading at 98.42.