India Rupee At 7-Month High On Corporate, Foreign Fund Inflows

The Indian rupee little changed at 69.33 pair now at 69.28 against 69.3325 previous close.
Pair to tip in 68.90-69.40 range today.
The Indian rupee rose to a seven-month high against the dollar in early trade, on the back of foreign portfolio and corporate inflows. Exporter sales ahead of fiscal year-end and ongoing foreign portfolio inflows in local equity markets have helped rupee to break its 2019 highs. The 68.80 level is seen as the next resistance for the rupee, which will likely hold on back of intervention by RBI and profit taking on dollar short positions.

The U.S. dollar gained on Thursday for the first time in a week, albeit modestly, as the pound stalled at lower levels ahead of a vote to extend Britain's March 29 deadline for exiting the European Union. The dollar index, a gauge of its strength against six other major currencies, was up 0.22 percent at 96.757 .
The British pound paused for breath on Friday but stayed on course for its biggest weekly gain in seven weeks after the UK parliament voted to seek a delay in Britain's exit from the European Union, following a decision to avert a no-deal Brexit. The yen was off oneweek lows after the Bank of Japan kept its policy on hold and a report that North Korea is considering suspending nuclear talks with the US.

Oil prices were firm on Friday amid production cuts led by OPEC and as U.S. sanctions against Venezuela and Iran likely created a slight deficit in global supply in the first quarter of 2019. Despite Friday's dips, oil has rallied around a quarter since the start of the year.
Gold prices edged down on Friday after slipping below the key $1,300 level in the previous session, pressured by improving appetite for risk as British lawmakers voted to seek a delay to the country's exit from the European Union.

Research