USDINR opened at 71.06/07 against yesterday finished trade @ 71.03/04 levels. Rupee getting some help on the domestic front, data showed India’s trade deficit in December narrowed $13.08 billion compare to $16.67 billion in the previous month. In December, merchandise exports rose just 0.34% from a year earlier to $27.93 billion, while imports fell 2.44% to $41.01 billion. Gold imports declined 24% to $2.56 billion in December last year against $3.39 billion in the same month of 2017.
INTRADAY RANGE - 70.56 ( 70.86 - 71.17 ) 71.35
On Tuesday Indian rupee slipped by another 26 pips to close at one-month low of 71.03/04 against the US dollar amid strengthening greenback and surging crude oil prices. At the Interbank Foreign Exchange, the rupee opened weaker at Rs 70.77 then lost further ground and fell to a low of 71.1575 against the greenback. This was the third straight session of loss for the rupee. The domestic currency Monday plunged by 43 pips to close at nearly one-month low of 70.92 against the US dollar. The Indian unit has lost 64 pips in these three sessions.
British lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin. The Parliament on Tuesday voted 432-202 against May's deal, the worst parliamentary defeat for a government in recent British history.
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