The rupee settled at 68.4950 against 68.9100 at the previous close. The local unit moved in 68.48-68.8825 per dollar band intra-day.
USD/INR ends at 3-mo low on likely FPI inflows into local debt, Essar Steel related inflows 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 68.4950/$1 Thursday 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 68.48/$1 during the day, the level last seen on Apr 4.
Global Currency
The dollar rose to one-week highs against a currency basket on Monday as a trade truce between the U.S. and China dampened demand for safe haven currencies, such as the yen and the Swiss franc. After meeting Chinese President Xi Jinping in Japan on Saturday on the sidelines of Group of 20 summit, U.S. President Donald Trump said he would hold back on new tariffs and that China will buy more farm products.
The euro fell 0.43% to 1.1318. At a June 18-19 policy meeting the Federal Reserve opened the door for possible interest rate cuts later this year. But comments last week from central bank officials, including Chair Jerome Powell, and the weekend trade truce have cooled expectations for aggressive rate cuts.
Global Markets
Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy. Brent crude futures LCOc1 , the international benchmark for oil prices, were down 2 cents or 0.03% at $63.80 per barrel.
Oil prices fell on Thursday, weighed down by data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy. Brent crude futures LCOc1 , the international benchmark for oil prices, were down 2 cents or 0.03% at $63.80 per barrel.
