Dollar closed at 65.1600 against its opening at 65.0500. Dollar closed in the offshore market traded up during European trades Friday tracking spike in spot pair following oil importers demand amid increasing risk aversion on uncertainty about US tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives' version in several key areas. The escalating geopolitical tensions have put investors on high alert for potential supply disruptions, helping push crude prices to levels not seen since 2015. Traders are concerned stemmed from news Thursday that the Saudi government ordered its citizens out of Lebanon, signalling the potential for escalating conflict between Saudi Arabia and Iran, another major oil producer. Indian shares opened lower Friday tracking weak global markets after investors turned their attention to the US Senate Republican plan that would delay expected corporate tax cuts promised by Trump's administration amid geopolitical concern in Saudi Arabia as it ordered Lebanon citizens to leave immediately.
Investors look forward to the Goods and Services Tax (GST) Council meet outcome today where it may bring down the tax rate on as many as 140 items from the highest slab of 28%, leaving only 40-odd items in this category.
Sensex provisionally ends 103.16 points, or 0.31 percent, higher at 33,354.09 points, with 15 components in green.
INTERNATIONAL
Asian shares slipped on uncertainty about U.S. tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives’ version in several key areas, including a delay in the timing of a corporate tax cut.
Japan's economy was expected have grown for a seventh straight quarter in July-September, a period of unbroken expansion last seen between 1999 and 2001, a Reuters poll found on Friday.
Gold dipped in Asia on Friday, but remained well supported on tensions between Iran and Saudi Arabia and await a summit in Vietnam among .
Oil markets were little changed on Friday, supported by ongoing supply cuts and strong demand, although the prospect of rising U.S. shale output capped prices around recent gains.