USD/INR opens up on oil importers demand; RBI-MPC policy eyed

The Indian rupee little changed at 68.53 pair now at 68.71 against 68.4250 previous close.
Pair to tip in 68.50-68.85 range today.
Dollar/rupee opened up Thursday on buying by PSB banks on behalf of oil importers even as most await the release of RBI-MPC policy statement later today. Nationalised banks were buying in spot pair for oil importers. The dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 97.09 Thursday compared to 97.02 at close of Indian market on Wednesday.

The euro held firm against the dollar on Thursday as hopes of a trade deal between the United States and China bolstered risk appetite globally, while the British pound was buoyed after the UK parliament approved legislation to seek a Brexit delay. The euro was last up 0.1 percent against the U.S. dollar at $1.1246.
Sterling had edged up 0.25 percent the previous day after Prime Minister Theresa May said she would seek another Brexit delay to agree an EU divorce deal with the opposition Labour leader, a lastditch gambit to break an impasse over Britain's departure.

Oil prices were mixed on Thursday, with Brent edging higher towards the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S. inventories. Brent futures LCOc1 were up 5 cents at $69.36 a barrel
Gold gained on Thursday, supported by an easing dollar as investors awaited progress on the ongoing Sino-U.S. trade negotiations after reports showed that both sides were nearing a deal. Spot gold XAU= rose 0.2 percent to $1,291.89 per ounce as of 0332 GMT. U.S. gold futures GCcv1 firmed 0.1 percent at $1,296.90 an ounce.

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