USD/INR closed at 68.52 against its last opening at 68.91. Dollar/rupee ends down Monday on likely FII inflows into the local stocks and selling by exporters amid subdued dollar. Foreign banks are selling dollars on behalf of the overseas investors, who are buying into local stocks while dollar remained subdued after the weak US economic data which will support the rupee.
Local stock opened higher Monday led by higher risk appetite on positive outcome from US-China trade talks. Hopes of dovish stance from US Federal Reserve policy meeting tomorrow helped boost investor sentiments.
The greenback subdued against it major pairs after the weak economic data release. US industrial production released by the Board of governors of the Federal Reserve decreased to 0.1% in February compared to the 0.4% expected
US Capacity utilization data released by Federal Reserve Board decrease to 78.2% in February compared to 78.4% expected by the market participants. NY empire state manufacturing index released by Federal Reserve bank of New York fell to 3.7 in March compared to 10.0 expected by market participants.
Crude oil futures down on global economic growth concerns, weighing the crude oil prices. However the supply cut by OPEC and US sanctions with Venezuela and Iran supporting the oil price. Brent futures for May delivery traded up at $67.04 a barrel on Monday.
Nifty ends above 11,450, Sensex gains 70 points.