Dollar closed at 64.9300 against its opening at 64.9700. Dollar ended flat Friday as likely overseas fund outflows from local stocks offset initial public offering (IPOs) and corporate bond related inflows.Dollar open higher on oil importers demand amid globally strong greenback following a drop in weekly initial jobless claims in US. Dollar grew strong on the back of better than expected data, also oil bids will support the pair. The greenback reversed its losses against its major peers as investors grew optimistic following a decline in weekly jobless claims number. Weekly initial jobless claims data released on Thursday showed the number of Americans filing for unemployment benefits dropped 4000 last week to 226000 for the week ended March 10, from a market expectation of 228000 and previous week's figure of 230000. Jobless claims declined for the third time in four weeks. Investors grew optimistic that tightening labour market conditions will boost wage growth in the second half of this year. Also pound fell on rising tension between the UK and its Western allies with Moscow over charges that Russia used a nerve agent on a former spy living in the UK also rattled investors.
Meanwhile, prices for US imports and exports increased 0.4% and 0.25 respectively in February, the US Bureau of Labour Statistics reported on Thursday. On the domestic front, India's trade deficit narrowed to $11.97 billion in February on rising exports, government data showed Thursday.
BSE Sensex closed lower by 509.54 points at 33,176, while the Nifty 50 fell 165 points to close at 10,195.15.
INTERNATIONAL
Asian stocks slid on Friday as reports of more chaos in the Trump administration tested investors' nerves, already frayed by fears that U.S. tariffs could hurt the global economy and trigger a trade war.
Oil prices were set to fall this week, with both benchmarks dropping slightly on Friday, on concerns among investors about rising supply from the U.S. and other nations threatening to undermine efforts by OPEC and other producers to tighten the market.
Gold prices held steady on Friday as political tensions between the United Kingdom and Russia supported safe haven bids despite a firmer dollar, with markets also eyeing a possible U.S. rate hike next week.
South Korea had a muted reaction after President Donald Trump hinted the administration might roll back military support for its longtime ally, a threat that came as the two sides seek to overhaul their trade deal while also disarming Kim Jong Un.
Japan’s dependence on the central bank to drive economic policy was on show again on Friday as parliament moved to lock in Governor Haruhiko Kuroda to another five-year term as a land scandal undermined the nation’s political leaders.