WEEKLY CURRENCY MARKET 23rd - 27th SEP 2019

This week, Rupee closed 40 paise higher against the dollar (INR Vs USD). Last week, the domestic currency, ended with flat note against the dollar. On Monday, The rupee started with weak note at 71.03 on account of some buying in the American currency by banks and importers and settled with marginally higher at 70.94. The rupee settled at 71.01 against dollar, down 0.09% or 8 paise on Tuesday after opened 15 paise higher at 70.79. The rupee settled at 71.04 against dollar, down 0.02% or 2 paise from Tuesday’s close as foreign fund outflows and subdued equities weakened forex market sentiment. On Thursday, The rupee closed at 70.88 against dollar, up 0.23% or 17 paise due to some selling in American currency by banks and exporters amid easing crude oil prices. Rupee settled at 70.55 against dollar, up 0.47% or 34 paise on Friday as crude oil prices receded following reports that Saudi Arabia had agreed on a temporary ceasefire in Yemen. USD/INR touched weekly low of 70.51 and high of 71.14.