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2020-08-03 /MONDAY The U.S. dollar ticked up in Asian Market opening trades today, clinging to its rebound late last week, but mounting concerns about a slowing U.S. economic recovery from coronavirus epidemic kept a lid on gains. But the dollar\'s decline is likely to continue. Real U.S. interest rates are declining even as the country is running a big current account deficit, a situation we had not had for a long time. U.S. bond yields have fallen to their lowest level since the market turmoil in March triggered by the pandemic, with the 10-year yield slipping to near 0.50%, undermining the yield attraction of the dollar. That reflected worries U.S. economic recovery could be undercut by a resurgence in COVID-19 cases. U.S. policy makers have so far struggled to clinch a deal to pump more money into the world\'s largest economy even as an expanded unemployment benefit, worth about $75 billion per month and accounting for nearly 5% of personal income, expired on Friday. A growing U.S. fiscal deficit to finance the stimulus prompted Fitch Ratings to revise the outlook on the United States\' triple-A rating to negative from stable. In currencies, the dollar rose 0.3% to 106.20 yen, having gained almost 1% on Friday thanks in part to month-end buying following its dive into a 4-1/2-month low of 104.195, currently trading at 105.82. The euro also shed 0.3% to $1.1744, off Friday\'s two-year high of $1.1908, while the Pound is trading flat at $1.3090. The Indian Rupee opened weaker with a gap of almost 09 paise at 74.90/91 against its previous session’s close of 74.81/82 and is expected to trade in a range between 74.70 – 75.10 today. |
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INR Rates
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Symbol |
Bid |
ASK |
|
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USD | 74.63 |
74.64 | | |
GBP | 93.06361 |
93.07854 | | |
EUR | 83.86173 |
83.88412 | | |
JPY | 0.69449 |
0.69456 | | |
CHF | 78.86505 |
78.88172 | | |
AUD | 51.77829 |
51.80068 | | |
SGD | 53.51355 |
53.53659 | | |
CAD | 55.03281 |
55.04905 | | |
NZD | 48.711 |
48.74832 | | | *Closing Rates on : 2020-07-03 |
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Stock Indices
| BSE Sensex | 36939.6 | -667.29 |  | | | S&P CNX Nifty | 10891.6 | -181.85 | | | | NASDAQ | 11046.423 | 140.542 |  | | | HangSeng | 24458.13 | -137.22 | | | | DJ IA | 26656.65 | 228.33 | | | | DAX | 12650.51 | 337.15 | | |
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