India Rupee Steady As Exporters' Dlr Sales Offsets Weak Shares

The rupee settled at 68.93 against 68.95 at the previous close. The local unit moved in 68.7950 -69.1650 per dollar band intra-day.
The Indian rupee was little changed against the dollar, as greenback sales by exporters and foreign banks, likely for their custodian clients, offset early losses from weak local and regional shares. Although the rupee started the week on a weaker note tracking riskoff rally in emerging markets, it recovered on account of persistent foreign fund inflows and exporters’ dollar sales before the financial year-end. Decline in crude prices also helped the rupee. Higher foreign exchange reserves are great deal of comfort for local unit.

The yen gained against its peers on Monday, touching a six-week peak versus the dollar, as fears in markets of a global economic slowdown fuelled demand for the Japanese currency. The yen, a perceived safe-haven which attracts demand times of market turmoil and political tensions, was 0.15 percent higher at 109.79 to the dollar JPY= after brushing 109.70, its strongest since Feb. 8.
The euro rose on Monday after a better-than-expected business confidence survey from Germany relieved markets of some of their economic growth worries and knocked the safe-haven yen off sixweek highs to the dollar. As the data lifted German 10-year yields back into positive territory and helped up European shares.

Gold prices rose on Monday as investors' appetite for riskier assets faded on concerns about a potential U.S. recession and decelerating global growth, increasing appeal for the bullion alongside yen and bonds.
Oil prices were steady on Monday, with concerns of a sharp economic slowdown competing with support from tighter supply due to OPEC's production and U.S. sanctions on Iran and Venezuela.

Date	Time	Currency	Event	Actual	Forecast	Previous
22-03-2018	14.30	EUR	German Ifo Business Climate Index	99.6	98.7	98.7

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