Dollar closed at 64.0875 against its opening at 64.1500. Dollar ended at one-week low Thursday on selling by foreign banks likely for exporters amid globally weak greenback as investors remained cautious ahead of US consumer price index data release scheduled later today. Adding to the dollar's weakness, central banks in developed economies like Eurozone, Japan and England are looking towards moving slowly tightening their monetary policy or reducing the stimulus introduced in response to the credit crisis that hit global market a decade back. In European trades, the spot pair fell to intraday low during late morning trade Wednesday on selling by foreign banks likely for exporters amid globally weak dollar as there is caution ahead of US inflation data due later today.
On the US economic front, other key reports slated for release this week include the retail sales on Wednesday, weekly jobless claims, producer price index, industrial production and housing market index on Thursday, followed by housing starts, import and export prices and consumer sentiment on Friday. Indian stocks opened higher on positive global cues taking lead from overnight strong closing in US markets amid steady crude oil prices that boosted investor sentiments.
Locally, investors would stay focus on wholesale price index data for Jan 2018 to be released later today.
BSE Sensex closed lower by 144.52 points, or 0.42%, to 34,155.95, while the Nifty 50 fell 38.85 points, or 0.37%, to 10,500.90.
INTERNATIONALChina's central bank said on Wednesday it has achieved initial results in financial deleveraging but will continue to fend off systemic risks as debt levels in the economy remain relatively high.
Russia is seeking to finalise multi-million-dollar investment deals with Saudi Arabia in the next three months including partnerships with state oil giant Aramco.
Euro zone industrial production jumped more than expected in December, data from the EU statistics office Eurostat showed on Wednesday, underlining the fastest economic growth rate in a decade that economists expect to continue in 2018.
British foreign minister Boris Johnson will say that it would be "intolerable" and "undemocratic" if the country has to follow European Union rules and regulations after Brexit, showing little sign he will give ground on his tough position.