Forex tips: Indian rupee opens higher at 63.58 per dollar
The Indian rupee opened with marginal gain of 6 paise at 63.58 per dollar on Friday against previous close of 63.64. The US dollar weakens against the euro for the first time this week as investors were reluctant to enter new positions and as some US economic data disappoints. The dollar index is at 95.34 mark.
Sterling trade weighted index holds near 7 year high on data boost
Sterling hovered near a 7-year high against a trade-weighted basket of currencies on Friday, buoyed by recent data bolstering a view that the British economy was outperforming its peers.
Britain's public sector budget deficit narrowed more than expected in April, data on Friday showed. Public sector net borrowing, excluding state-controlled banks, totalled 6.8 billion pounds in April, down nearly 27 percent from a year earlier and the lowest shortfall for that month since 2008. Economists taking part in a Reuters poll had forecast a shortfall of 8.1 billion pounds.
Sterling bulls emerged on Thursday after data showed British retail sales rose more strongly than anticipated in April. The currency had taken a knock earlier this week after UK inflation fell below zero in April for the first time in 55 years. The pound was trading slightly firm against the dollar at $1.5664. It hit a two-month high against the euro at 70.905 pence per euro earlier in the session, before giving up most of those gains to trade at 71.36 pence.
Written by Unknown
We are Creative Blogger Theme Wavers which provides user friendly, effective and easy to use themes. Each support has free and providing HD support screen casting.
0 comments:
Post a Comment