WEEKLY CURRENCY MARKET 24th - 29th JUNE 2019

On a weekly basis, the rupee appreciated 55 paise or 0.79 per cent against US dollar. Last week, the rupee gained 23 paise or 0.33 per cent against US dollar. On Monday, Rupee opened 3 paise lower note at 69.60 as against dollar but closed 21 paisa higher against the dollar at 69.35 on renewed selling of US dollars by bankers and exporters. On Tuesday, Rupee closed 0.007% higher against the dollar at 69.35 on back of broad weakness in the dollar against its major peers. In the last few sessions the dollar has been weighed down on expectation that the Federal Reserve in the near future is expected to cut rates. The Rupee advanced by 20 paise to close at 69.15 on Wednesday ahead of a scheduled meeting at G20 between US President Donald Trump and his Chinese counterpart Xi Jinping, later this week. Rupee opened 10 paise lower note at 69.25 as against dollar on Thursday and closed 8 paise higher against the dollar at 69.07. Rupee closed 5 paise higher against the dollar at 69.02 on Friday due to easing crude oil prices and weaker greenback.