USDINR closed at 68.7000 against its opening at 68.56. Dollar ended down Monday tracking the weakness in greenback amid overseas fund inflows into local stocks. "Risk appetite has surged as Trump and China toned down their rhetoric while dollar has slumped after the jobs data, weighing the pair down,". Dollar index, which weighs greenback against a basket of six major currencies, traded at 93.92 Monday compared to 94.27 at close of Indian Market Friday.
The greenback slumped against its major peers as investors' expectations of aggressive Federal Reserve rate hikes were dented after slower-than-expected US wage growth, while the pound retreated as a key member of Britain's cabinet resigned over Prime Minister Theresa May's Brexit plan.
On Friday, data showed average US hourly earnings gained 0.2% in June after increasing 0.3% in May.
However, nonfarm payrolls rose by a stronger-than-expected 213,000 in June, Friday's data also showed, although this had little impact on currencies.
Local stocks opened higher tracking positive Asian markets after the US President Donald Trump toned down the tariff rhetoric amid silent retaliation from China.
Sensex provisionally ends 267 points higher with 25 components in the green.
OIL
Oil prices rose on Monday as investors focused on tight market conditions after data late last week showed U.S. crude inventories fell to their lowest in more than three years.
GOLD
Gold prices rose on Monday as investors covered their short positions and the dollar slipped to its weakest since mid-June, while lingering U.S.-Sino trade tensions supported the bullion as well.
ASIAN NEWS
China’s foreign exchange reserves unexpectedly rose in June, bolstered by an increase in the value of its U.S. Treasury holdings in an otherwise volatile month for Chinese markets, which were battered by fears about a Sino-U.S. trade war.