USD/INR ends up on FII and FPI outflows from local assets, oil bids

The rupee settled at 69.67 against 69.22 at the previous close. The local unit moved in 69.33-69.71 per dollar band intra-day.
Dollar/rupee ends up during afternoon trades Monday on buying by nationalised banks likely on behalf of oil importers amid likely overseas outflows from local debt. Oil bids and FII outflow is supporting dollar demand. Dollar/rupee in the offshore market traded up trades on Monday tracking the movement in spot pair. Dollar/rupee in the non-deliverable forward market maturing in one month traded at Rs 69.84/$1 during European trades and Rs 69.52/$1 at start of Indian market Monday

The dollar was also weighed down by softening bond yields. The greenback was 0.3 percent lower at 111.385 yen JPY=EBS after briefly popping up to a three-week high of 111.825 on Friday following the U.S. jobs report. The pound held near a one-week low as France and the Netherlands expressed doubt about May's plan to further delay Brexit
The euro edged higher from a one-month low hit last week as investors squared positions before a European Central Bank meeting this week where policymakers may strike a cautious note on the region's growth outlook. Traders cut their long euro positions by their biggest margin in nine months last week, according to weekly positioning data.

Oil prices rose to their highest level since November 2018 on Monday, driven by OPEC supply cuts, U.S. sanctions against Iran and Venezuela and fighting in Libya as well as strong U.S. jobs data. Brent futures LCOc1 were at $70.66 per barrel.
Gold prices rose to a more than a one-week peak on Monday as the dollar slipped on slow U.S. wage growth last month and a rally in equities stalled, boosting bullion's appeal.

Date	Time	Currency	Event	Actual	Forecast	Previous

Research