On Friday , USDINR seems opening in positive range despite dollar held firm as caution over rapid rises in U.S. corona virus cases cast doubt over the reopening of the economy, keeping the allure of its safe-haven value. Today is monthly expiry of USDINR June future segment .
Yesterday , USDINR opened weaker at 75.75 levels hit intraday highs at 75.7950 levels before hit intraday lows at 75.5650 levels. Rupee finished Thursday trade at 75.66 levels.
India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.Reliance Industries Ltd, which runs the biggest refinery in the world in Jamnagar and accounted for 25% of Venezuela’s exports last year, has no plans at the moment to make future purchases, according to people with knowledge of the situation who asked not to be identified because the information isn’t public.
INTRADAY SPOT RANGE - 75.26 ( 75.48 - 75.75 ) 75.95
GLOBAL HIGHLIGHTS
The Dollar stood at 97.360, having pared a large part of this week's losses. Against the yen, the dollar traded at 107.16 yen , having gained 0.5% in the overnight session.
The Euro eased to $1.1220, losing steam after hitting a one-week peak of $1.1348 on Tuesday though the currency has maintained weekly gains of about 0.4%.
The Pound slipped to $1.2420 , off this week's high of $1.2541 touched on Wednesday.
The Turkish lira stood at 6.8538 per dollar flat after the country's central bank unexpectedly halted a nearly year-long easing cycle on Thursday, by keeping its key interest rate unchanged at 8.25% and citing upward pressure on inflation.
The Mexican peso hovered above a one-month low after Banxico, the country's central bank cut its interest rates by 50 basis points as expected late on Thursday.
The governor of Texas temporarily halted the state's reopening on Thursday as COVID-19 infections and hospitalization surged and new daily cases around the country climbed to record levels.
Data on Thursday showed weak demand is forcing U.S. employers to lay off workers, keeping new applications for unemployment benefits extraordinarily high, even as businesses have reopened.
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