DAILY CURRENCY MARKET 28th AUG 2019

The rupee opened 4 paise lower at 71.52 against the US dollar on Wednesday after settling at 72.48 on Tuesday. USD/INR touched intra day’s low of 71.45 and high of 71.88. The rupee declined by 29 paise to close at 71.77 against the US dollar as fears of an impending global recession prompted investors to stick to safe-haven assets like the Japanese yen. Rising crude oil prices and weakness in the equity market put further pressure on the domestic currency. Meanwhile, Nifty down 59.25 points or 0.53% to 11046.10 level and Sensex ended at 37451.84 at a decline of 189.43 points or 0.50%.

The Rupee was trading at 79.60 as against Euro. The currency pair EUR/INR opened at 79.29, which was previously close at 80.39. The Currency pair GBP/INR and JPY/INR were trading at 87.68 and 0.67 respectively. The other currencies pairs ZAR/INR, MYR/INR, SAR/INR and AED/INR were trading at 4.67, 17.05, 19.14 and 19.55 subsequently.

The USD/JPY was trading at 105.77. The currency pair EUR/USD was trading at 1.10. The paired currency EUR/JPY was trading at 117.22. Elsewhere, the currency pair GBP/USD wastrading at 1.22. The other currencies pairs AUD/USD, NZD/USD, MYR/USD and SAR/USD were trading at 0.67, 0.63, 0.24 and 0.27 respectively.