USD/INR open up on dlr demand ahead of FX swap auction on Tue, higher Brent oil prices

The Indian rupee little changed at 69.75 pair now at 69.73 against 69.35 previous close.
Pair to tip in 69.65-70.00 range today.
Dollar/rupee opened up on Monday on dollar demand ahead of FX swap auction on Tuesday amid higher Brent oil prices. Rupee opened low on higher Brent oil prices and dollar demand ahead of FX swaps auction on Tuesday. The Reserve Bank of India is scheduled to conduct $5 billion dollar-rupee swap auction on Apr 23 following the success of the first round last month. Forex swaps will help inject liquidity and boost India's forex reserve. Crude oil futures is trading high on reports the US will end Iran oil sanction waivers.

The dollar edged up against key peers such as the euro and the yen on Monday, boosted by the relative strength of the U.S. economy, while losing ground against the Canadian dollar following a rise in crude oil prices. Financial markets in Australia, Hong Kong and many major countries in Europe are closed on Monday for the Easter holiday. Currency trading continues globally but volume is expected to be light.
The euro was a tad lower at $1.1244 EUR= , adding to last week's losses of nearly half a percent after data on Thursday showed that activity in Germany's manufacturing sector shrank for a fourth straight month in April. Pound was last down 0.05% at $1.2994.

Oil prices rallied by about 3 percent on Monday to their highest since late 2018 as the United States was set to announce that all imports of Iranian oil must end or be subject to sanctions.
Gold prices rebounded on Monday from a near four-month trough hit in the previous session as investors resumed trading after Easter holiday, with bullion gaining further traction on higher crude rates.

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