The Dollar index has moved near its previous supply line. If it retraces towards 100 again, EM curries will see a pullback, says ICICIdirect.
Indian rupee erased intraday gains and ended flat at 75.57 per dollar, amid volatility seen in the domestic equity market.
It opened higher at 75.47 per dollar and remained in the rage of 75.44 - 75.59.
On May 14 domestic unit ended lower at 75.56 per dollar.
At 14:33 IST, the Sensex was down 88.66 points or 0.28% at 31034.23, and the Nifty was down 18.45 points or 0.20% at 9124.30.
Oil prices were mixed on Friday after big gains a day earlier when the International Energy Agency (IEA) predicted crude stockpiles would start to shrink in second-half 2020 after surging while the coronavirus pandemic slashed fuel demand.
The dollar-rupee contract on the NSE was at 75.64 in the last session. The open interest fell by almost 3.1% during the last session, said ICICIdirect.
The Dollar index has moved near its previous supply line. If it retraces towards 100 again, EM curries will see a pullback. This may help the rupee to appreciate as, overall, it is expected to trade in a range, it added
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First Published on May 15, 2020 10:00 am
