India\u2019s domestic currency, Rupee had its worst week in a month erasing completely all the post-trade deal gains. On the foreign exchange market, the value of Rupee depreciates by 43 paise at the end of the previous week, and settled lower at 71.07 against the US dollar.<\/p>\n
During the early Asia trading hours, the USD\/INR exchange rate was seen quoted within a range of 71.19 \u2014 71.07. Indian Rupee is starting the week modestly higher being driven by the natural ebb and flow of the FX market.<\/p>\n
The dollar index, which gauges the greenback’s strength against a basket of major currencies, traded higher after it crashed to a 5-months low and settled at 97.68 as easing trade tensions and easing Brexit fears have sent investors into the world’s reserve currency.<\/p>\n
Elsewhere, foreign institutional investors (FIIS) sold shares in the local equity market worth Rs 338.86 crore; according to the National Stock Exchange of India data published at the end of Friday\u2019s trading session.<\/p>\n
In other news, Wall Street analysts are expecting the Rupee to depreciate and trade within a trading range of 72.50 \u2014 72.70 against the greenback. On a 12-month basis the same currency analysts project the USD\/INR exchange rate within a trading range of 75.00 \u2014 76.00.<\/p>\n
Elsewhere, the Chinese President Xi Jinping said \u201cthe first-phase economic and trade agreement reached between the U.S. and China is a good thing for the U.S., China, and the entire world,\u201d<\/em> according to state media reports.<\/p>\n Looking forward, while the Christmas period will bring thin liquidity as no major risk events are scheduled on the economic calendar<\/p>\n The domestic benchmark equity index NIFTY 50 reached a series of new all-time highs during last week\u2019s trading activity and settled at 12,271, registering a 1.14% gain. During early Asia trading hours NIFTY 50 was seen quoted around the 12,287 level. Year-to-date the Indian stock market has gained 12.95%, benefiting from net foreign investment inflow.<\/p>\n The Indian 10-year government bond yield was seen quoted at 6.60% compared with its previous close of 6.60%.<\/p>\n India\u2019s domestic currency, Rupee had its worst week in a month erasing completely all the post-trade deal gains. On the foreign exchange market, the value of Rupee depreciates by 43 paise at the end of the previous week, and settled lower at 71.07 against the US dollar. During the early Asia trading hours, the USD\/INR […]<\/p>\n","protected":false},"author":163946598,"featured_media":83461,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1693,1381],"tags":[1666,1398],"class_list":{"0":"post-84056","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-inr","8":"category-usd","9":"tag-inr","10":"tag-usd"},"acf":[],"yoast_head":"\n
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