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19-06-2024 - WEDNESDAY

The dollar was nursing losses in Asian Market opening trades today after soft U.S. retail sales data reinforced bets of imminent Federal Reserve rate cuts, while sterling eased a touch ahead of a reading on UK inflation due later in the day. Figures released yesterday showed U.S. retail sales barely rose in May and data for the prior month was revised considerably lower, suggesting that economic activity remained lacklustre in the second quarter. That knocked the greenback lower in the immediate aftermath, though its losses were limited against a basket of currencies as the euro, which holds the largest weight in the dollar index, continues to be weighed down by political jitters in France and the wider bloc. In other major currencies today, the yen was little changed at 157.75 per dollar, as it continues to be pressured by stark interest rate differentials between Japan and the U.S. Sterling fell 0.03% to $1.2705 ahead of UK inflation data due later today, which comes before a policy decision by the Bank of England (BoE) tomorrow, where rates are expected to remain on hold. The euro was last marginally lower at $1.0738, while the dollar index steadied at 105.23. The Indian rupee opened stronger with a gap of almost 03 paise at 83.38/39 against its previous sessionís close of 83.41/42 and is expected to trade between 83.30- 83.45 band today.
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INR Rates

Symbol   Bid  ASK
USD83.335 83.345
GBP105.42711 105.48544
EUR90.34347 90.36847
JPY0.53447 0.53464
CHF91.64742 91.69784
AUD55.41778 55.45944
SGD61.83957 61.8763
CAD61.08708 61.105
NZD50.87602 50.90935
*Closing Rates on : 2024-05-17

Stock Indices

IndexPointsChange
BSE Sensex77350.8349.69
S&P CNX Nifty23522.45-35.45
NASDAQ19908.8586.109
HangSeng18430.39514.84
DJ IA31097.9756.84
DAX18075.17-56.8
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