On Thursday, USDINR opened 13 pips weaker @ 70.00/01 levels.
Gap up opening correlated with dollar index touch May '17 highest level.
Overnight EURUSD fall below key resistance level.
In Emerging market Korean won fall sharply.
Oil prices fell marginally today but still remained at elevated levels.
The second USD – INR sway auction received bids to exchange US dollars to Indian Rupees at USD 18.65 billion compared with the RBI's promise to take in USD 5 billion in its second such swap deal.
INTRADAY RANGE - 69.59 ( 69.82 - 70.05 ) 70.28
On Wednesday , At the Interbank Foreign Exchange, the rupee opened sharply lower at 69.82/83 and further fell to a four-month low of 69.98/99, the lowest level since December 3, 2018, against the dollar. Intra-day, the unit touched a high of 69.75.
Foreign fund inflows and strong gains in equity markets helped the domestic currency reverse some of the losses before close.
EURO-DOLLAR
The euro nursed losses against the dollar on Thursday after dipping to a 22-month low on a surprise drop in a leading indicator for economic activity in Germany, amplifying worries of a growth slowdown in Europe's largest economy. German business morale deteriorated in April, bucking expectations for a small improvement, a business index by the Munich-based Ifo economic institute showed on Wednesday, as trade tensions weighed on the German economy, leaving domestic demand to support slowing growth.
The greenback rallied to a 23-month high of 98.189 against a basket of key rivals overnight after gaining more than half a percent, largely propelled by the euro's weakness. The index last traded slightly lower at 98.096.
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