WEEKLY CURRENCY MARKET 9th - 13th SEP 2019

The Indian rupee continued its winning momentum for this week. On a weekly basis, the domestic currency, appreciated 82 paise or 1.14% to the US dollar. Improved global risk sentiment and gains in other Asian currencies helped lift the rupee higher. Last week, Rupee lost 32 paise at 71.74 against US dollar. On Monday, Rupee started 5 paise higher at 71.69 and settled at 3 paise higher at 71.71 against the dollar as China's easing move and rate cut hopes by the US Fed enthused investors. Forex Market was closed on Tuesday on account of Muharram. The rupee closed with marginal gains of 6 paise at 71.67 against the dollar tracking gains in other Asian currencies. The Indian rupee jumped sharply on Thursday against the US dollar, continuing its recent rebound against the US dollar (USD), the rupee settled at 71.13 a dollar. On Friday, The rupee settled at 70.92 against dollar. Appreciation in rupee's value against the US dollar has also put pressure on domestic gold and silver prices. The rupee also hit a new four-week high in intraday trade against the dollar on September 13. Rupee touched weekly high of 70.85 and low of 71.85 against US dollar.