Dollar closed at 65.0100 against its opening at 64.7800.Dollar ended up as it opened down with a gap Friday on likely overseas fund inflows into local stocks, debt after India upgraded the Government of India's local and foreign currency issuer ratings amid subdued dollar. Moody's India has upgraded the bond outlook, giving a boost to FII investors.Indian stocks opened higher after US-based Moody's upgraded India's sovereign credit rating to 'Baa2' with a stable outlook amid positive global cues.
Moody's Investors Service has today upgraded the Government of India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. The global rating agency has also upgraded India's local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.
The decision to upgrade the ratings is underpinned by Moody's expectation that continued progress on economic and institutional reforms will, overtime, enhance India's high growth potential and its large and stable financing base for government debt, and will likely contribute to a gradual decline in the general government debt burden over the medium term.
The dollar remained subdued against its major peers after mixed US economic data. Initial jobless claims for US unemployment benefits unexpectedly rose in the week ended Nov 11th, reported the Labour Department on Thursday. The report said initial jobless claims increased to 249,000, an up tick of 10,000 from the previous week's unrevised level of 239,000.
Sensex provisionally ends 190.87 points, or 0.58 percent, higher at 33,297.69 points, with components in green.
INTERNATIONAL
Asian shares rose firmly as strong U.S. earnings and a step forward in Congress on U.S. tax reform brightened the mood, even though investors noted that many hurdles remain to passage of a deal on tax cuts.
Oil prices steadied after recent declines, but were on track for their first weekly fall in six weeks as concerns about surging U.S. supplies put a dent in the market's recent rally.
Japan’s exports are expected to have risen for an eleventh straight month in October, led by robust demand for cars and electronics manufacturing equipment as the world’s third-largest economy continues its recovery.
Gold prices edged up in Asia as U.S. tax cuts move closer to passage, raising inflation concerns for some investors.
China's finance ministry has ordered an overhaul of its existing public-private partnership (PPP) projects and tightened approval rules for new ones, as Beijing has grown increasingly concerned about rising hidden debt risks from potential abuses of the program.
INTERNATIONAL
Asian shares rose firmly as strong U.S. earnings and a step forward in Congress on U.S. tax reform brightened the mood, even though investors noted that many hurdles remain to passage of a deal on tax cuts.
Oil prices steadied after recent declines, but were on track for their first weekly fall in six weeks as concerns about surging U.S. supplies put a dent in the market's recent rally.
Japan’s exports are expected to have risen for an eleventh straight month in October, led by robust demand for cars and electronics manufacturing equipment as the world’s third-largest economy continues its recovery.
Gold prices edged up in Asia as U.S. tax cuts move closer to passage, raising inflation concerns for some investors.
China's finance ministry has ordered an overhaul of its existing public-private partnership (PPP) projects and tightened approval rules for new ones, as Beijing has grown increasingly concerned about rising hidden debt risks from potential abuses of the program.