WEEKLY CURRENCY MARKET 14th - 18th OCT 2019

This week, Rupee closed 13 paise or 0.18% lower against US dollar. It was ahighly volatile week on the forex market. Gains in domestic equity markets and softening crude oil prices supported rupee from heavy losses. Last week, Rupee closed 14 paise or 0.19% lower against per dollar. On Monday, The Rupee opened 14 paise higher at 70.88 per dollar but finally erased all its gains, closed at 71.23 per dollar, as domestic equity markets erased most of its gains in the final hour of trading. The rupee closed 29 paise lower at 71.53 against US dollar on Tuesday. The rupee closed 11 paise higher at 71.43 against US dollar On Wednesday. On Thursday, The rupee closed 27 paise higher at 71.17 against US dollar on the back of optimism over the Brexit deal amid softening crude oil prices. On Friday, The rupee has recovered from the low point of the day and ended 3 paise higher at 71.15 per dollar, with domestic equity market ended higher for the sixth consecutive session. USD/INR touched weekly low of 70.75 and high of 71.72.