USDINR opened 10 pips weaker @ 68.53/54 levels against yesterday closed at 68.43/44 levels.
All eyes on RBI monetary policy outcome, Market participant already priced in 25 bps cut in interest rate.
Rbi already infused $ 5 billion liquidity thru OMO in march and also already announce same amount of infusion in April.
Oil prices rose for a fourth day, pushing Brent towards a nearly five-month high of USD 70 a barrel as support from OPEC-led supply cuts and US sanctions overshadowed a report showing an unexpected rise in US inventories.
INTRADAY RANGE - 67.85 ( 68.22 - 68.78 ) 69.09
On Wednesday , Rupee surged by 29 pips to close at 68.43/44 against the US dollar. Amid the greenback's weakness against key rivals overseas, even as oil prices firmed up on supply concerns.
This is the third straight session of gain for the domestic currency, during which it has strengthened by 89 pips.
On Thursday, The euro held firm against the dollar as hopes of a trade deal between the United States and China bolstered risk appetite globally, while the British pound was buoyed after the UK parliament approved legislation to seek a Brexit delay.
China had recognised problems for the first time during the talks that the United States has raised for years, referring to intellectual property theft, forced transfer of technology from US companies doing business in China and others.
Comments