USD/INR: Greenback Remains Weak against Foreign Currencies

The Rupee opened strong today at 69.32 against USD. Appreciation of Rupee is majorly due to weakening of US dollar against major foreign currencies. USD/INR key factors this week:

G20 Meet

Investors look forward to this week’s scheduled meeting between President Trump and his Chinese Counterpart Xi Jinping on the second day of the meet 29th of June 2019 at the G20 meet in Japan. They are hopeful for a resolution between USA and China that would end the current trade war

Domestic Market

Foreign investors bought equity shares worth INR 207.33 crores according to provisional data on Monday. Sensex and NIFTY remained up even after news of early exit of Mr Viral Acharya, deputy governor of RBI.

Crude Oil

The benchmark brent crude futures were down by 12 cents at USD 64.74 even after US announced fresh sanctions on Iran. Crude oil prices were soaring last week due to tensions between Iran and US since shooting down of US military drone but low demand of crude seems to have overpowered the geo political tensions.


Investors reacted to new US sanctions on Iran by betting safe on the yellow metal. Gold touched 6 year high rising by 1.64 percent to USD 1419 on Monday. President Trump publically tweeted his disappointment on fed interest rates, which benefited Gold prices. Gold prices could hit USD 1450 level if the meeting between Trump and Xi comes out without any resolution

USD vs Overseas Currencies:

The dollar index fell by 0.04 to 95.93 on Monday. The Dollar Index(USDX, DXY, DX) is a way to measure 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. The Index goes down when the U.S. dollar weakens against other currencies.

One thought on “USD/INR: Greenback Remains Weak against Foreign Currencies

Leave a Reply

Get Verified Suppliers of Rice, Wheat, Dry Fruits, Pulses and Other Grains