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Daily Report

2021-05-14/ FRIDAY

The dollar took a breather in Asian Market opening trades today but looks set to post weekly gains against a basket of currencies as investors try to assess the risk of U.S. inflation rising faster than expected and prodding the Federal Reserve to hike interest rates sooner. A strong reading on U.S. wholesale prices and jobless claims yesterday failed to spark a renewed uptick in Treasury yields, which some traders put down to the market already pricing in a degree of inflation worries. Moreover, the Federal Reserve has been sticking to its script that its stimulus will be in place for some time to support the economy, with officials viewing a spike in inflation as transitory. All the same, given the U.S. economic normalization is gathering steam, market players say underlying inflation concerns will remain for now. Inflation will remain a big theme for markets in coming few months. The Fed says it will be transitory, but markets are asking \'what if it turns out not to be transitory. In early trade, the dollar index paused at 90.73, sitting on a gain of 0.5% so far this week and keeping some distance from its 2-1/2-month low of 89.979 set on Tuesday. In currencies today, against the yen, the dollar stood at 109.58 yen, off Thursday\'s one-month high of 109.78. The euro was fetching $1.2079, holding above Thursday\'s low of $1.20515 while the British pound changed hands at $1.4041.  The Indian Rupee opened almost unchanged at 73.43/44 against its previous session’s close of 73.42/43 and is expected to trade in a range between 73.25 – 73.50 today.
Dollar Rupee



INR Rates

Symbol   Bid  ASK
USD75.06 75.07
GBP103.16246 103.17748
EUR89.35142 89.36644
JPY0.68655 0.68667
CHF81.24256 81.25135
AUD57.27078 57.28579
SGD55.98568 55.99403
CAD59.84214 59.86123
NZD52.84975 52.87977
*Closing Rates on : 2021-04-12

Stock Indices

BSE Sensex48732.5541.75
S&P CNX Nifty14677.8-18.7
DJ IA31097.9756.84
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