USD/INR closed at 69.62 against its opening at 69.62. USD/INR closed flat after FX swap auction result. Foreign banks including BNP Paribas were on the sell side. There was FII inflows into local equities. Also, the dollar is weak compared to the level at the close of Indian markets yesterday.
A South Korean delegation will head to Washington as early as this week for talks with U.S. officials after the United States announced plans to end all Iran sanction waivers, two South Korean government officials said on Tuesday.South Korea, a major buyer of Iranian oil, was among seven countries that won exemptions from U.S. sanctions late last year. It allowed South Korea to buy limited amounts of Iranian oil, mainly condensate -- an ultra-light form of used for petrochemical products.
Local stocks opened higher as earnings revival hope boosted investor sentiment even as mixed Asian markets and a surge in crude oil prices looked to dampen demand for risky assets.Adding to that, the greenback remained subdued against other major currencies following a weak home sales data from US amid thin post-holiday trades.
The dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 97.35 Tuesday late compared to 97.29 at open of Indian market on Monday.
Meanwhile, on the domestic front, investors now await the FX Swaps auction to be conducted today by the Reserve bank of India.
The RBI was scheduled to conduct $5 billion dollar-rupee swap auction today, following the success of the first round last month. Forex swaps will help inject rupee liquidity and boost India's forex reserve. RBI got bids worth $18.65 billion at USD/INR Buy/sell Swap auction vs $5 Billion notified For Auction on tuseday.
Sensex closed down 80 points on crude oil woes , Nifty ends at 11,576.