The rupee settled at 68.9100 against 68.9250 at the previous close. The local unit moved in 68.79-68.9525 per dollar band intra-day.
Dollar/rupee ended little changed Wednesday as investors remained on sidelines ahead of the India's Union Budget release due on July 5, Investor' key focus is now Union Budget release. Dollar/rupee ended at Rs 68.91/$1 Wednesday compared to previous close of Rs 68.92/$1. However, traders said a sharp fall in crude oil prices led the spot pair to fall to a three-month low of Rs 68.79/$1 during the day, the level last seen on Apr 3.
Global Currency
The dollar slipped to a one-week low against the Japanese yen on Wednesday, undermined by the steady fall in U.S. Treasury bond yields, fading optimism over the Sino-U.S. trade deal and the possibility of fresh tariff hostilities with Europe. Meanwhile the Swedish crown briefly jumped to a 2-1/2 month high versus the euro after the central bank said it was on track to tighten policy by early 2020
The dollar slipped to a one-week low against the Japanese yen on Wednesday, undermined by the steady fall in U.S. Treasury bond yields, fading optimism over the Sino-U.S. trade deal and the possibility of fresh tariff hostilities with Europe. Meanwhile the Swedish crown briefly jumped to a 2-1/2 month high versus the euro after the central bank said it was on track to tighten policy by early 2020
Global Markets
Oil prices rebounded slightly on Wednesday after a steep fall in the previous session as OPEC and its allies' decision to extend output cuts was not enough to counter investors' concerns about the slowing global economy.
Gold prices touched a one-week high on Wednesday, driven by upbeat safe-haven sentiment as hopes of a quicker resolution of the U.S.-China trade dispute ebbed, while a potential trade feud with Europe deepened concerns over tepid economic growth.
