AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.80 Decreased By ▼ -0.15 (-0.54%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.70 Decreased By ▼ -1.47 (-0.97%)
PRL 26.75 Decreased By ▼ -0.13 (-0.48%)
PTC 16.15 Increased By ▲ 0.15 (0.94%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.76 Increased By ▲ 0.37 (5.01%)
TOMCL 35.59 Decreased By ▼ -0.08 (-0.22%)
TPLP 8.12 Increased By ▲ 0.21 (2.65%)
TREET 16.50 Increased By ▲ 0.61 (3.84%)
TRG 53.10 Increased By ▲ 0.34 (0.64%)
UNITY 26.16 Decreased By ▼ -0.39 (-1.47%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,878 Decreased By -41.8 (-0.42%)
BR30 30,578 Decreased By -173.3 (-0.56%)
KSE100 93,377 Increased By 152.1 (0.16%)
KSE30 28,933 Increased By 48.3 (0.17%)

MUMBAI: The Indian rupee is likely to open little changed on Friday and be driven by local demand for U.S. dollars during the session, after global markets were largely muted due to the Thanksgiving holiday in the United States.

Non-deliverable forwards indicate rupee will open at around 82.32-83.33 to the U.S. dollar, barely changed from 83.3425 in the previous session.

“Expecting another session with tight range,” a foreign exchange trader at a state-run bank said. “Some higher demand can be seen on account of Thursday’s US holiday and Monday’s INR holiday.”

Indian markets will be closed on Monday on account of a local holiday.

Asian currencies were largely subdued and the dollar index was little changed at 103.78. The dollar index appears to be on a course for a quiet week after having fallen almost 2% last week.

Indian rupee ends flat

U.S. Treasury yields rose in Asia with the 10-year yield inching up to 4.45% and the 2-year ticking higher to 4.93%.

The rupee is likely to stay flat on Friday “lacking any significant triggers,” said Arnob Biswas, head of foreign exchange research at SMC Global Securities.

But there is a potential for a relief rally in the rupee next week, driven by dollar sales from exporters, Biswas added.

Equity inflows worth about $1.5 billion related to the rebalancing of MSCI index effective from Nov 30 could provide more support the rupee in the coming week.

Comments

Comments are closed.