USD/INR ends down on likely FII inflows into local stocks, weak dlr

The rupee settled at 68.86 against 68.93 at the previous close. The local unit moved in 68.7775-68.98 per dollar band intra-day.
Dollar/rupee ended down Tuesday on likely overseas fund inflows into local stocks amid a weak greenback. Likely FII inflows into local equities weighed on the spot. Also a weak dollar further pulled back spot. Major foreign banks sold dollars. Local stocks ended lower tracking sell-off in global markets, triggered by sluggish macro data raising fresh concerns of a slowdown in global economy. The greenback weakened against it major pairs after US 10-year Treasury yields edged higher as fear of recession hitting US economy receded.

The dollar has enjoyed a degree of support from the fact that special counsel Robert Mueller’s investigation into allegations of collusion between the Trump campaign and Russia in 2016 ended without any further charges being brought. It faces further tests later Tuesday from the latest release of data on U.S. housing.
Sterling is center stage again Tuesday morning in Europe after U.K. lawmakers voted on Monday night to take control of the Brexit process from the government of Prime Minister Theresa May. The pound’s reaction so far has been only moderately positive, as markets have been anticipating a softer Brexit since the Withdrawal Agreement was rejected by parliament in January.

Gold fell on Tuesday, retreating from a near one-month peak hit in the previous session, as equity markets regained some ground following a sharp slide driven by fears of a global slowdown, and bond yields edged up.
Oil rose towards $68 a barrel on Tuesday as OPEC supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to an economic slowdown.

Date	Time	Currency	Event	Actual	Forecast	Previous

Research