Early Monday we are expecting domestic currency start with weaker note against greenback. Last trading session USDINR day trading range was between 75.41 – 75.6025.
India said on Sunday it would privatize state-run companies in non-strategic sectors and stop fresh insolvency cases for a year, as the country battles with the economic fallout from the corona-virus pandemic.
The minister also said no fresh insolvency cases would be initiated for up to a year, in a move to avoid a wave of bankruptcies from companies hit by the corona-virus outbreak.
INTRADAY RANGE – 75.41 (75.59 – 75.97) 76.15
SENTIMENT – IMPORTER BUY ON DIP
GLOBAL HIGHLIGHTS
The greenback was steady on most other Asian currencies after gains last week and flat against a basket of currencies at 100.31.
The pound slightly recover from lows trading at $1.2111, its trading near lowest levels since late March, after a week of deadlock with the EU over a post-Brexit trade deal and the Bank of England's chief economist considering negative interest rates in a Saturday newspaper interview.
A month after sellers had to pay nearly $40 a barrel to get rid of U.S. oil futures, the next watershed moment looms with the expiry of the June contract on Tuesday - and so far there is little sign of a repeat of the historic plunge.
Gold rose to the highest in more than seven years after the Federal Reserve said stocks and asset prices could suffer a significant hit from the coronavirus pandemic, and warned the process of economic recovery may stretch through until the end of next year.
New Zealand's resident population has climbed above 5 million, with the milestone to be the fastest million to be added in the country's history.
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