On Friday, USDINR opened 2 pips firm @ 69.33/34 against Thursday closed at 69.35/36 levels. In early morning rupee touch 7 month highest levels.
Rupee shine on Foreign Institutional support ahead of general election.
OIL price is matter of concern because USDINR not factoring Brent oil rally.
RBI opened Buyers credit facilities as well as OMO of 5 billion.
INTRADAY RANGE - 68.92 ( 69.20 - 69.57 ) 69.85
On Thursday opened 14 pips down at 69.68 against the US dollar after the Reserve Bank on Wednesday said it will inject long-term liquidity worth $5 billion into the system through foreign exchange swap arrangement with banks for three years.
On Wednesday registered its third straight session of gains, rising 17 paise to close at a fresh two-month high of 69.54 against the greenback.
The BoJ tweaked its assessment of the Japanese economy, citing growing risks from the slowdown in the external sector.
Bank of Japan (BoJ)’s decision to keep its short-term interest rate target at minus 0.1% as expected. The central bank maintained the 10-year JGB yield target around 0%, also in line with expectation.
The USD/CNY pair traded near flat at 6.7184. U.S.-China trade talks returned to focus after U.S. President Donald Trump said during a St. Patrick’s Day reception on Thursday that the U.S. will probably know in the next three or four weeks whether a trade deal with China is possible.
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