Code USD(Bid) INR(Bid) USD(Ask) INR(Ask)
USD 95.4275 95.4375
EUR 1.16365 111.0442 1.16366 111.0568
GBP 1.35518 129.3214 1.35526 129.3426
JPY 153.696 62.0860 153.702 62.0950
CHF 0.81041 117.7449 0.81046 117.7645
SGD 1.26508 75.4302 1.26511 75.4399
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The Rupee opened weaker as it faces another day of pressure from rising oil prices, with the central bank's support likely to temper ?rather than reverse the currency's decline. The South Asian unit has dropped about 0.7% over the past ?two days after largely shrugging off the rise in oil prices ?in the prior sessions. The latest slip suggests the impact of higher ?crude prices is beginning to show more clearly, despite the ?Reserve Bank of India's interventions, bankers said. The rupee ?in ?the last two sessions has shown higher sensitivity to oil prices than other Asian currencies that are similarly exposed to crude. Brent crude remained above ?the $100-a-barrel mark, a sensitive point for import-oil-dependent India, on ?Thursday, with ?the conflict between Iran and the U.S. intensifying. The latest military strikes on shipping have heightened concerns over the extent and duration of supply constraints. The U.S. ?10-year ?Treasury yield climbed to its highest since ?2023, pressured by the disappointing Treasury buyback and a renewed surge in oil prices, ?compounding pressure on the rupee. Currency markets treaded water on Thursday as investors weighed a ?fresh surge in oil prices and global bond yields, while the dollar found little support ahead of ?inflation readings that could shape the U.S. Federal Reserve's policy outlook. The greenback, however, found only marginal relief, easing against major peers after an earlier move higher. The euro ?and sterling both edged up, last at $1.1639 and $1.3555, respectively. The yen also stood tall near a seven-month high, up roughly 0.1% at 153.35 ?ahead of an expected Bank of Japan rate hike next week. The dollar index , which measures the greenback against a basket of currencies, gave up earlier gains and eased to 98.73. Elsewhere, the New Zealand dollar was 0.3% stronger at $0.5851, while the ?Australian dollar was flat at $0.7215. Oil prices held firm on Thursday after Brent crude breached $100 a barrel, with traders ?bracing for deeper supply disruptions as Iran and the United States ?launched their largest attacks on shipping since their six-month-old conflict began. Brent crude futures inched lower by 0.1% to $101.10 a barrel by 0256 GMT. U.S. West Texas Intermediate crude was at $96.24 ?a barrel, up 0.2%.......
The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......

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