DAILY CURRENCY MARKET 5th AUG 2019

The rupee opened 55 paise lower at 70.14 against the US dollar. USD/INR touched intraday low of 70.13 and high of 70.74 . It was the worst intraday fall for rupee since March 6. The currency closed Re 1.12 lower at 70.71 against the dollar as concerns over US-China trade war sent Chinese yuan below 7 a dollar level. The weakness is intensified by uncertainty over Kashmir issue, poor high frequency economic data, and escalation in foreign outflow. The rupee had closed 69.59 as against dollar on Friday. Meanwhile, the Nifty was down 134.75 points or 1.23% at 10862.60 while Sensex was down 418.38 points or 1.13% at 36699.84.

The Rupee was trading at 79.00 as against Euro. The currency pair EUR/INR opened at 77.46, which was previously close at 77.27. The Currency pair GBP/INR and JPY/INR were trading at 86.00 and 0.66 respectively. The other currencies pairs ZAR/INR, MYR/INR, SAR/INR and AED/INR were trading at 4.74, 16.87, 18.87 and 19.27 subsequently.

The USD/JPY was trading at 106.22. The currency pair EUR/USD was trading at 1.11. The paired currency EUR/JPY was trading at 118.62. Elsewhere the currency pair GBP/USD was trading at 1.22. The other currencies pairs AUD/USD, NZD/USD, MYR/USD and SAR/USD were trading at 0.68, 0.65, 0.24 and 0.27 respectively.