We are expecting , Rupee will commence Monday trading session with weaker note as greenback was up on early morning in Asia, with investors turning to the safe-haven asset as many countries tightened restrictive measures against the COVID-19 virus.
India plans to set tough financial targets for state-run firms to try to improve their valuations ahead of a push by Prime Minister Narendra Modi to privatize some companies, according to a draft government document and sources.
The Health Ministry has called a meeting on Sunday of its joint monitoring group on COVID-19 to discuss a mutant coronavirus that has spread rapidly in the UK, government sources have said. Several European nations have banned flights to and from Britain. No policy decision has been taken by India on any flight ban from the UK but the matter will be given a serious consideration, people with direct knowledge of the matter said.
INTRADAY RANGE - 73.35 ( 73.49 - 73.68 ) 73.80
GLOBAL HIGHLIGHTS
The U.K. was the latest country to imposed fresh, strict lockdowns in order to curb a new strain of the virus. This led to European neighbors, including France, Germany, Italy, the Netherlands, Ireland and Belgium closing their borders to travelers, and in some cases freight from the U.K. Other countries are also mulling similar bans.
Prime Minister Boris Johnson will chair an emergency response meeting on Monday to discuss international travel and the flow of freight in and out of Britain.
Sterling slid 1.29% to $1.3346 after several European countries closed their borders to the UK as the country entered a tougher lockdown to fight a new strain of coronavirus.
In the United States, Republican U.S. Senate Majority Leader Mitch McConnell said an agreement had been reached by congressional leaders on a roughly $900 billion COVID-19 relief bill.
The dollar also found support from a Nikkei report that Japanese Prime Minister Yoshihide Suga told Finance Ministry officials in November to make sure the dollar did not fall below 100 yen.
The riskier Antipodean currencies weakened at the start of the week as investors rushed towards safe-haven assets. Australia’s largest city of Sydney is also battling a fresh COVID-19 outbreak.
Oil prices ran into profit-taking after notching up seven straight weeks of gains, with travel restrictions in Europe a further blow to demand.
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