Dollar/rupee closed at 69.51 against its opening of 69.35. Dollar/Rupee stuck in a range on as traders stayed on the sidelines witing for updates on the ongoing global trade tensions, and on the domestic front, the full year Budget by the newly sworn-in Modi government scheduled for July 5. For the day, the gains in the dollar index could not push the pair higher as the slide in international crude oil prices reduced the demand for the greenback from the importers of the commodity.
The other key international events slated for the coming days are the Fed's June policy review and the G-20 Summit. The monetary policy action and guidance by the US central bank and the progress of G-20 leaders' efforts to reduce the trade war-related risks can impact the risk appeal of the world's reserve currency.
Investors now await key events due later this month including the Fed's policy review and the G20 meeting in Osaka on June 28-29. Brent futures for August delivery traded 0.10% down at $59.91 a barrel on Thursday.Crude oil prices slumped below $60 a barrel pressured by another unexpected rise in US crude stockpiles amid dimming outlook for global oil demand weighed by the on-going US-China trade tension.
The safer greenback rose against its major counterparts as the flared up Sino-US trade tension is taking a toll on global risk-appetite.Hopes that the leaders of the two countries will clinch a deal on the sideline of Group of 20 summit meeting in Osaka on June 28-29 have been fading as neither side has shown a willingness to compromise.
Sensex provisionally ends 41 points lower with 19 components in the red.