The Indian rupee little changed at 71.0650 pair now at 71.0850
against 71.0450 previous close.
Pair to tip in 70.90‐ 71.30 range today.
The Indian rupee fell against the dollar in early trade, as higher oil
prices fueled concern over the widening of the nation’s current
account deficit, while investors perused mixed reports on Sino‐
American trade relations. The uptick in crude prices and mixed
reports on U.S.‐China trade talks have kept sentiment subdued for
the rupee. State Bank of India plans to raise at least $1 billion via
dollar bond issue
Global Currency
The dollar was firm against the yen on Friday as growing optimism of
progress in Sino‐U.S. trade talks supported broader appetite for risk.
Chinese Vice Premier Liu He will visit the United States on Jan. 30
and 31 for the latest round of trade talks aimed at resolving the
trade standoff between the world's two largest economies. the yen,
the dollar edged up to 109.31 yen
The dollar held firm against the euro, while the pound was steady
after rising overnight on hopes of a second referendum on Britain's
membership in the European Union following Prime Minister
Theresa May's crushing defeat in parliament of her Brexit deal. The
single currency was up less than a tenth of percent, last changing
hands at $1.1397.
Global Markets
Oil prices rose on Friday after a report from the Organization of the
Petroleum Exporting Countries (OPEC) showed its production fell
sharply last month, easing fears about prolonged oversupply.
Gold prices dropped on Thursday on hopes of a thaw in U.S.‐Sino
relations and on increasing hopes that a 'hard Brexit' scenario can be
avoided. Gold futures for February delivery on the Comex division of
the New York Mercantile Exchange gained $3.65
