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Rupee Ends At Nearly 1-Month Low Against Dollar: 10 Things To Know
15 Oct 2019, 07:09 PM IST
- According to analysts, investor's caution returned as reports suggested that China wanted more talks this month before agreeing to a deal with the US for settling trade issues.
- Chinese yuan on Tuesday pared gains on fading hopes of a ''phase one'' agreement between the two major economies as pitched by US President Donald Trump.
- The dollar, meanwhile, advanced against the major global currencies with the dollar index gaining 0.07 per cent to 98.52.
- Crude oil prices retreated for a second day after weak Chinese trade data and fresh concerns over the Sino-US trade talks.
- Global benchmark Brent crude dropped more than 0.50 per cent to $58.99 per barrel.
- Domestic stocks advanced for the third session in a row on hopes of consumer demand revival in the upcoming festive season.
- The Sensex ended 292 points or 0.76 per cent higher at 38,506 and the NSE Nifty 50 index climbed 0.77 per cent or 87 points to 11,428.
- Meanwhile, yields on the benchmark 10-year government security spurted to 6.6668 per cent against 6.48 per cent in the previous day as consumer inflation spiked in September.
- Consumer inflation rose to a 14-month high of 3.99 per cent in September, inching closer to the RBI's comfort level of 4 per cent.
- According to Amit Pabari, Managing Director, CR Forex Advisors, the rupee shall form its new range between 70.80-71.80 levels for the next few trading sessions.
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