DAILY CURRENCY MARKET 16 MAY 2019

Rupee opened 6 paise higher at 70.27 on Thursday as against the US dollar, after settling at 70.33 on Wednesday. The rupee was closed 30 paise higher against the dollar at 70.02. Weakening of the American currency in the overseas markets supported the rupee, while rising crude prices, US-China trade concerns and foreign fund outflows weighed on the domestic currency. USD/INR touched intraday low of 69.98 and high of 70.32. Meanwhile, Sensex ended at 37393.48, up 278.60 points, or 0.75 per cent, while Nifty closed with a gain of 100.10 points, or 0.90 per cent, to close at 11257.10. The RBI set a reference exchange rate for dollar at 70.20.

The Indian currency (INR) was trading 22 paise higher at 78.48 as against Euro. The currency pair EUR/INR opened at 78.71, which was previously close at 78.70. Meanwhile, the RBI set a reference exchange rate for Euro at 78.68. The Currency pair GBP/INR and JPY/INR were trading at 89.74 and 0.63 respectively. The RBI set a reference exchange rate for 1 pound sterling at 90.63, while for 100 JPY at 64.01. The other currencies pairs ZAR/INR, MYR/INR, SAR/INR and AED/INR were trading at 4.95, 16.83, 18.68 and 19.07 subsequently.

The USD/JPY was trading at 109.67. The currency pair EUR/USD was trading at 1.12. The paired currency EUR/JPY was trading at 122.81. Elsewhere, the currency pair GBP/USD was trading at 1.28. The other currencies pairs AUD/USD, NZD/USD, MYR/USD and SAR/USD were trading at 0.69, 0.66, 0.24 and 0.27 respectively.