Code USD(Bid) INR(Bid) USD(Ask) INR(Ask)
USD 95.7000 95.7100
EUR 1.16775 111.7537 1.16777 111.7673
GBP 1.36459 130.5913 1.36474 130.6193
JPY 158.993 60.1883 159.001 60.1976
CHF 0.80105 119.4578 0.80112 119.4807
SGD 1.26944 75.3810 1.26955 75.3954
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The Rupee opened weaker on Friday, dragged by rising crude oil prices and persistent dollar demand from importers ?looking to hedge their foreign currency exposure. The currency has traded in a narrow 30-paisa range ?so far this week, repeating last week's pattern. On a daily basis, ?the rupee has come under pressure from oil and importer hedging, with declines ?then stalling on RBI intervention. The dollar's weakness from the U.S. Treasury taking steps to support long-maturity bonds has worked in the RBI's favour in supporting the rupee. The dollar remained under pressure on Friday and was on track for a weekly loss, with markets largely ?seeing the U.S. Treasury's ?bond buyback ?move a short-lived fix. The selloff in longer-dated U.S. Treasuries resumed on Thursday, cutting short the relief rally sparked by the ?Treasury Department's decision to double buybacks of longer-maturity securities ?next quarter. This ?came despite U.S. Treasury Secretary Scott Bessent saying the U.S may repurchase more Treasuries. Brent crude was hovering just below $94 a barrel on Friday, after rising more ?than ?2% in the previous session. It has climbed ?nearly 12% over the past two weeks with uncertainty over the outcome of the U.S.-Israeli war ?with Iran keeping supply concerns high. The dollar was on shaky ground and set for a weekly loss on ?Friday, as investors viewed the U.S. Treasury's bond buyback gambit as merely a temporary fix, while raising fresh concerns about ?officials' increasingly interventionist approach. Against a weaker dollar, the euro was perched near a three-month high and last bought $1.1685, ?on track for a weekly rise of 1%. Sterling flirted with a six-month peak and edged 0.08% higher to $1.3643, taking its gains for the week ?thus far to 0.8%. The greenback was meanwhile on track for a weekly fall of more than 0.8% and was last at 98.82, languishing near a three-month low against a basket of six other currencies. In other currencies, the Australian dollar advanced 0.13% to $0.7123, while the New Zealand dollar added 0.23% to $0.5957 and was headed for a weekly rise of more than 1%. The yen slipped 0.05% to 159.12 per dollar, continuing to come under pressure from wide U.S.-Japan rate differentials. Oil prices fell slightly on Friday, but were on track for a second weekly rise as the stalemated U.S.-Iran war ?continues to disrupt supply from the key Middle East producing region. Brent crude futures ?fell 23 cents, or 0.3%, to $93.55 a barrel by 0142 GMT, after climbing 2.4% in the previous session. U.S. West Texas Intermediate crude futures slipped 33 cents, or 0.4%, to $86.50 a barrel, after rising 2.3% in ?the prior session.......
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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