USD/INR closed at 69.67 against its opening at 69.33. Dollar/rupee ends at three-week high Monday on buying by nationalised banks likely on behalf of oil importers demand tracking sharp surge in Brent. Brent crude oil prices breached $70/ bbl, rising to their highest level since Nov, 2018, driven up by OPEC's ongoing supply cuts, US sanctions against Iran and Venezuela and strong US jobs data. The greenback remained subdued against other major currencies as despite upbeat US jobs data, wage growth moderated which supported the Federal Reserve's decision to suspend further interest rate increases this year.
The dollar index, greenback against a basket of six major currencies, traded at 97.19 late Monday compared to 97.38 at opening of Indian market on monday. Data released on Friday showed US non-farm payrolls rose by a solid 196,000 in March, topping expectations. However, risk sentiments drooped tracking ongoing Brexit related uncertainty.
Britain's departure from the European Union looms on Apr 12, but British Prime Minister Theresa May asked EU to postpone the exit until Jun 30 with little progress being made towards the departure.France and the Netherlands expressed doubt about UK PM May's plan to further delay Brexit.
Indices end off day's low with Nifty above 11,600, Sensex falls 161 points.