Indian rupee Vs dollar today: No trading in Rupee as markets are shut, stays at 65-mark
Indian rupee was trading at 65.165 above 0.050 points or 0.08%
There were no trading in Indian Rupee against US benchmark dollar index on Friday, as markets were closed on account of 'Good Friday' festival in the country. In previous trading session, the Rupee finished at 65.035 down by 0.19% against dollar. The domestic currency has been trading above 65-mark since past three consecutive trading session. While trading in Indian rupee is not allowed, it's later dollar index faces heat on Friday, as the currency is trading negative against six major global currencies.
Data given by Investing.com, showed that US dollar index (DXY) slumped by 0.15% and was trading at 90.01 on Friday.
The DXY is an index of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies.These basket of foreign currencies are Euro, Japanese Yen, Pound Sterling, Canadian dollar, Swedish krona and Swiss Franc.
According to a MarketRealist.com, the DXY depreciated 1.2% to 89.32 on March 20–27, 2018. The US Dollar Index is near a three-year low. US crude oil prices increased ~3% from March 20–27, 2018. A weak dollar supported oil prices during the same period.
Thus, the continuous tumble in dollar index, has supported Indian rupee to maintain it's trend near 65-mark.
Moreover, foreign funds on net basis on March 28, made an inflow of Rs 1741.42 crore together in Indian equity, debt and hybrid market. Trading in markets are closed, as India`s stocks, bonds and currency markets are closed on Thursday and Friday for public holidays. Trading will resume on Monday.
On Wednesday, the Nifty50 dropped 0.69% to 10,113.70, while the benchmark BSE Sensex lost 0.62% to 32,968.68. Also, the benchmark 10-year bond yield rose about 7 basis points to 7.40 percent, while the rupee weakened to 65.17 from its 64.98 close.