The rupee settled at 71.45 against 71.64 at the previous close. The
local unit moved in 71.28‐72.45 per dollar band intra-day.
Dollar/rupee ended over one‐month low Tuesday on selling by
foreign banks & exporters amid tracking subdued dollar, The RBI
after nine hours marathon meeting of its central board members
Monday agreed to constitute a panel to look into the Economic
Capital Framework, while bank health under Prompt Corrective
Action will examined by the Board for Financial Supervision of RBI.
Global Currency
The dollar slid lower on Tuesday, to trade at a near two week low
against a currency basket as investors remained subdued ahead of
the U.S. Thanksgiving holiday later in the week. The dollar has been
pressured lower by dovish sounding comments late last week from
Federal Reserve Vice Chair Richard Clarida and Dallas Fed President
Robert Kaplan who raised concerns over a slowdown in global
economic growth.
The euro fell from a two‐week high on Tuesday as a selloff in
European stock markets and nervousness about Italian banks fed
through to the currency. The euro gave up is gains as European
stocks fell, Italian bank shares hit a two‐year low and Italian bonds
sold off again amid an ongoing confrontation with the European
Union over Rome's budget plans.
Global Markets
Oil prices fell on Tuesday, set to snap a four‐day winning streak amid
concerns about rising global supplies as OPEC weighs production
cuts. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at
$56.63 per barrel, down 57 cents, or 1 percent.
Gold inched lower on Tuesday, pressured by a slight uptick in the
dollar and held a narrow range in light trade ahead of the U.S.
Thanksgiving holiday. Spot gold was down 0.1 percent at $1,223.01
per ounce, having earlier hit a peak since Nov. 8 at $1,225.88
