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USDINR OPENED WEAKER @ 70.17/18


  • USDINR opened 17 pips weaker at 70.17/18 levels against Thursday closed at 70.00/70.01.

  • Rupee weaker opening on dollar index overnight rally above 97.50 levels.

  • ECB dovish stance keep euro 21 month lowest levels.

  • Rupee also getting some support on Oil prices eased due to record US crude output and rising commercial fuel inventories.

  • Rupee has been driven primarily by FII inflows that has led the rally for rupee.

INTRADAY RANGE - 69.78 ( 69.95 - 70.20 ) 70.45

  • On Thursday, The rupee strengthened further in early trade to trade above 70-level against the US dollar following softening crude oil prices amid sustained inflows by foreign institutional investors.

  • The local currency was trading 29 pips higher at 69.99 against the dollar in early trade. Earlier, the rupee opened the day at 70.09 compared with the previous close of 70.28 against the US dollar.

  • The euro struggled near a 21-month low against the dollar on Friday, hurt by a series of dovish signals from the European Central Bank, with the currency market bracing for further volatility ahead of US jobs data later in the day.

  • The single currency stood little changed at $1.1197 having tumbled 1% on Thursday to touch $1.1176, its lowest since June 2017. It has declined 1.5% so far this week.

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