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2019-12-12 THURSDAY

The dollar nursed its steepest losses in weeks in Asian Market opening trades today, after the U.S. Federal Reserveís benign inflation outlook hosed down expectations for a rate hike any time soon, pushing Treasury yields lower. Investors also remained on edge as Sundayís deadline for the next round of U.S. tariffs on Chinese goods looms, and ahead of a European Central Bank (ECB) meeting and the UK election later today. The Fed was not as optimistic as people thought, and that is consistent with a lower U.S. dollar and the fall in bond yields that we saw. Fed Chairman Jerome Powell said the economic outlook for the U.S. was favorable as the central bank announced its decision to hold rates steady, as expected, though forecast only moderate and slowing growth through 2020 and 2021. New economic projections showed 13 of 17 Fed policymakers foresee no change in interest rates until at least 2021. In currencies today, the yen crept higher to 108.47 per dollar. The greenback hit its lowest in more than a month against the euro after the Fed meeting and sat just above that level at $1.1133 while the dollar\'s weakness helped Sterling drift higher to $1.3210. The onshore Chinese Yuan was stronger at 7.0303.  The Indian Rupee opened stronger with a huge gap of almost 15 paisa at 70.69/70 against its previous sessionís close of 70.84/85 and is expected to trade between 70.50 - 70.90 ranges today tracking weak dollar.
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INR Rates

Symbol   Bid  ASK
USD71.455 71.465
GBP91.61246 91.64818
EUR78.79343 78.80772
JPY0.65585 0.65603
CHF71.78521 71.81407
AUD48.9824 49.01813
SGD52.4787 52.48641
CAD54.01799 54.03433
NZD45.45967 45.4954
*Closing Rates on : 2019-11-11

Stock Indices

IndexPointsChange
BSE Sensex40581.71169.14
S&P CNX Nifty11971.861.65
NASDAQ8402.60948.317
HangSeng26994.14348.71
DJ IA27911.329.58
DAX13167.1620.42
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