USD/INR closed at Rs. 69.4950 against its opening at Rs. 69.4075. USD/INR ended at three-week low Monday on selling by foreign banks tracking an overall weakness in the greenback and helped by FII inflows into local stocks, but rebounded in afternoon trades on Monday helped by the month-end related demand from oil importers while a bounce back in crude prices acted as a catalyst. USD/INR opened lower on Monday on selling by foreign banks tracking a weak greenback following a dismal economic data release in the last session from the US. Few foreign banks sold dollars, although mostly remained on a hibernating mode as the US market remain closed today.
The greenback traded lower against major counterparts after a weak economic data release of Friday, pointing to slow down in economic growth in the world's biggest economy. The dollar index, a gauge that measures the strength of the greenback against a basket of six other major currencies, traded at 97.72 late compared to 97.57 at open of Indian market.
New orders for US-made capital goods fell more than expected in April. The Commerce Department on Friday said orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.9% last month compared to 0.3% fall expected by market participants.Data for March was revised down to show these so-called core capital goods orders rising 0.3% instead of increasing 1.0% as previously reported. Adding to that, durable goods order in the US fell 2.1% in April from 1.7% rise in the previous month.
Sensex climbs for 2nd day in closing, gains 249 points; Nifty tops 11,900.