The rupee settled at 69.4050 against 69.2150 at the previous close. The local unit moved in 69.30 -69.4650 per dollar band intra-day.
Dollar/rupee traded up in both onshore and offshore markets Monday afternoon on FII outflows from local stocks tracking poor risk-appetite in the market. Risk sentiments sagged following the US President Donald Trump's threat to raise tariffs on Chinese imports. Dollar/rupee in the non-deliverable forward (NDF) market maturing in one month traded at Rs 69.72/$1, up from Rs 69.54/$1 at the start of Indian market Monday. The pair traded at Rs 69.63/$1 at close Friday's spot closing time.
Global Currency
The Japanese yen gained on Monday while the Chinese yuan was set for its biggest drop in 10 months after U.S. President Donald Trump again threatened to raise tariffs, triggering a selloff across risky assets. Trump said on Sunday he would raise U.S. tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon, an abrupt shift.
The euro had fallen just under half a cent late on Sunday after Trump threatened to raise existing tariffs on $200 billion of Chinese imports from 10% to 25%, and to levy new tariffs of 25% on a further $325 billion so far unaffected by the U.S.-China trade dispute. The British pound weakened slightly as hopes of a cross-party deal.
Global Markets
Gold prices climbed on Monday after U.S. President Donald Trump threatened to raise tariffs on Chinese goods, escalating Sino-U.S. trade tensions, which prompted investors to sell riskier assets and boost safe-haven bullion.
Oil prices tumbled on Monday after Trump said he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between the world's two biggest economies.
