Published on 14/08/2019 10:37:26 AM | Source: Geojit Financial Services Ltd

Rupee ended at 71.40 a dollar yesterday, down 62 paise from its previous close of 70.78.

Posted in Currency Report| #Currency Tips #Geojit Financial Services Ltd

Now Get news on WhatsApp. Click Here To Know More

News Box

* Rupee ended at 71.40 a dollar yesterday, down 62 paise from its previous close of 70.78.

* FBIL set reference rate of dollar at 70.5185 and for Euro at 78.9069.

* Indian Markets to remain shut tomorrow on account of Independence day holiday.

* Global Funds Sell Net 6.38b Rupees of India Stocks Tuesday: NSE; Foreign Investors Sell Net INR7.46B of Indian Equities on Aug. 9

* Yield on 7.26% bonds maturing Jan 2029 at 6.53% on Aug. 13.

* In economic news, WPI for July is scheduled to be released today.

* US dollar edged higher against a basket of currencies on the news of US's delayed tariffs on China.

* Euro traded steady despite weak German data while UK's pound unchanged after UK wage report.

* Japan’s yen edged higher as concerns over future trade talks persist even after the U.S. delayed tariffs on some Chinese imports until mid-December.

* PBOC has set the Yuan reference rate at 7.0312 versus Tuesday's fix of 7.0326.

* Data released showed China's July industrial output grew to its slowest since Feb 2002.


Traders' Corner

Demand for safe haven assets amid global political uncertainty weighted on the emerging markets currencies, which in turn dragged the Indian rupee yesterday that hit a six month low. Foreign fund outflows and sell-off in the domestic equities also kept the currency markets under pressure. Local unit yesterday opened at 71.15 a dollar and moved in a range of 71.02 and 71.40. Rupee ended the session at 71.40 against its previous close of 70.78 on Friday.

On Monday, markets were closed on the back of Bakri-Id holiday. FIIs were sellers in the capital market segment; offloaded shares worth Rs 638.28cr as per exchange's provisional figures on 13 Aug. DIIs, on the other end were buyers to the tune of Rs 201.53cr on the same day. After market hours, domestic retail inflation came out that marginally eased to 3.15% in July against an eight month high of 3.18% in the previous month.

Now, the markets will turn focus towards WPI that is scheduled to be released today. For USD pair, 71.50 will be major resistance above which it may likely touch 71.75. On the downside 71.03 and 70.75 are the support levels.


To Read Complete Report & Disclaimer Click Here


For More Geojit Financial Services Ltd Disclaimer 
SEBI Registration Number: INH200000345


Views express by all participants area for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer