On Thursday , Rupee opened 11 pips weaker @ 69.21/22 against greenback on Oil price.
USDINR getting bids in early trade on energy price mounting on consistent basis.
Indian 10 Yr yields helping domestic currency appreciation.
International Monetary Fund (IMF), India is projected to grow at 7.3% in 2019 and 7.5% in 2020, supported by the continued recovery of investment and robust consumption, thus remaining the fastest growing major economy of the world.
INTRADAY RANGE - 68.74 ( 69.02 - 69.29 ) 69.58
On Wednesday , Rising for the second straight session, the rupee advanced 19 pips to close at 69.11 against the dollar on strong foreign funds inflows amid the greenback's weakness against key rivals overseas.
At the Interbank, the domestic unit opened at 69.28 and advanced to a high of 69.085. It settled at 69.11, showing a gain of 19 pips over its previous close.
Treasury yields fell Wednesday, along with rates for European counterparts, after European Central Bank President Mario Draghi reiterated his downbeat view of the eurozone’s growth outlook, and a key inflation reading came in line with expectations.
The European Central Bank made no changes to its policy measures at its March meeting. The central bank repeated it would keep rates at their current level at least through the end of the year. Draghi said the balance of risks to the eurozone economy “remain tilted to the downside.”
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