HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee breaks 3-day winning streak
Oct-15-2018

Breaking its three-day winning streak, Indian rupee ended weaker against the American currency on Monday, tracking losses in Asian currencies as crude oil prices increased. The forex market sentiments were also impacted by the Central Statistics Office’s (CSO) data showed that India’s retail inflation rate slightly rose to 3.77% in September as compared to 3.69% in August, driven by higher food, fuel prices and a depreciating rupee. On the other hand, the country’s industrial output eased in August with a slower rise of 4.3% as compared to 6.52% in July. Market-men also remain concerned with data showing that inflation based on wholesale prices rose to a two-month high of 5.13 per cent in September, mainly due to hardening of food prices and rise in cost of petrol and diesel. Besides, weak dollar against some currencies overseas also failed to cast any impact on the rupee. On the global front, yen hit a one-month high on Monday as rising geopolitical tension and investor anxiety about the global economy left investors skittish at the start of the week.

Finally, the rupee ended at 73.83, 26 paise weaker from its previous close of 73.57 on Friday. The currency touched a high and low of 74.07 and 73.78 respectively. The reference rate for the dollar stood at 73.97 and for Euro stood at 85.48 on October 15, 2018. While the reference rate for the Yen stood at 66.08, the reference rate for the Great Britain Pound (GBP) stood at 97.08. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

  RELATED NEWS >>