Dollar closed at 64.6750 against its opening at 64.6500.Dollar ended flat on Monday tracking firm dollar amid buying by oil importers amid overseas fund outflows from local stocks."Firm greenback and oil importers buying will surge the pair,". The greenback reversed its losses as investors looked past a weaker than expected US jobs data to home in on prospects for tax overhaul.
On the US data front, economy added 261,000 jobs in October as employment rebounded from anaemic gains in the prior month due to hurricanes Harvey and Irma. Employment was expected to increase by 312,000 jobs in October after unexpectedly dipping by 33,000 jobs in September. The unemployment rate dropped to 4.1% from 4.2%, but only because 765,000 people stopped looking for work. Economists had expected the rate to remain unchanged. Meanwhile, the US trade gap widened slightly in September, though not significantly more than economists had predicted. This according to government figures released Friday. Activity in the US service sector unexpectedly grew at a faster rate in the month of October, reported the Institute for Supply Management on Friday.
Sensex provisionally ends 59 points higher with 16 components in the green.
INTERNATIONAL NEWS:
Asian shares stepped away from recent decade highs on Monday while the U.S. dollar staged a broad-based rally and oil jumped to a more than two-year peak as Saudi Arabia’s crown prince cemented his power through an anti-corruption crackdown.
Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests.
Gold prices dipped in Asia on Monday despite heightened political risk in the Middle east with a surprise shakeup of Saudi Arabia's leadership.
China's broad shadow banking activity stopped growing in the first half of 2017 and declined relative to gross domestic product for the first time in five years, Moody's Investors Service said on Monday.