The Indian rupee little changed at 70.18 pair now at 70.18 against
70.1450 previous close.
Pair to tip in 69.90‐ 70.20 range today.
The Indian rupee was little changed against the dollar in early trade,
as foreign banks stepped up greenback sales likely on behalf of
exporters, offsetting early losses trigged from sell-off in regional
shares amid U.S.‐related uncertainty. Three foreign banks, including
two European lenders, sold dollars on behalf of exporters. Markets
will also focus on quarter‐end and year‐end inflows.
Global Currency
The dollar index a gauge of its value versus six major peers, held
steady at 96.90, having risen 1 percent last week as investors
shunned riskier assets. In a widely expected move, the U.S. Federal
Reserve hiked interest rates by 25 basis points last week for its
fourth hike of the year, underpinned by a relatively robust U.S.
economy compared with its peers elsewhere.
The Japanese yen and the Swiss franc rose on safe‐haven buying on
Monday as investors grappled with political instability in the United
States and fears of a global economic slowdown. Trading volumes
were thinning out with most global markets set to shut for
Christmas, while Japan was closed on Monday for a holiday.
Global Markets
Oil prices rose more than 1 percent on Monday on signs that the
recent price plunge may start crimping supply from the U.S.,
currently the world's biggest oil producer, though concerns about
global economy continues to weigh.
Gold prices climbed on Monday, with investor appetite for risk
curbed by worries over a partial U.S. government shutdown, Sino‐
U.S. trade tensions and faltering global economic growth. U.S. gold
futures GCv1 were up 0.5 percent at $1,264.1 per ounce.
