Currency Update by Heena Naik, Angel Broking Ltd
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Below are Views On Currency Update by Heena Naik, Research Analyst - Currency, Angel Broking Ltd
Currency Update
-According to the RBI data, the Indian foreign exchange reserves surged to $581.21 billion from $576.87 billion in the week ended April 9.
- FPI’s have pulled out a net Rs 4,615 crore from Indian markets in April so far amid a sharp escalation in covid-19 cases and strict restrictions imposed by various states.
- Japan's exports posted their strongest growth in more than three years in Mar’21 led by a surge in China-bound shipments.
- US Dollar Index plunged towards 91.48 levels after the US Feds reiterated its view that any spike in inflation was likely to be temporary.
- Oil prices have fallen on concerns that surging caseloads of coronavirus infections in the world could disrupt economic activities and hit the global demand for the crude.
- Sensex and Nifty opened in the red after another surge in coronavirus infections over the weekend increased the risk of more broad-based lockdowns.
- Indian Rupee is likely to weaken tracking the bearish sentiments in local equities coupled with opportunistic dollar buying by the importers and banks at lower levels.
Above views are of the author and not of the website kindly read disclaimer
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