ECB stimulus effect on Indian rupee

  • USD/INR may open higher versus its previous close of 60.3550/3650.
  • * The dollar rose to a six-year high versus the yen on Friday after ECB announced a rate cut. Dollar index up 0.05 pct.
  • * Nifty futures in Singapore down 0.1 percent.
  • * USD/INR trading at 60.46/48 in the offshore non-deliverable forwards, indicative of spot trade.
  • * Foreign investors bought shares worth $281.3 million on Thursday, as per provisional exchange data.
  • * Traders will watch for Friday’s U.S. August payrolls data and scheduled peace talks in Ukraine.
  • * The European Central Bank cut interest rates and launched a large stimulus package for the flagging euro zone economy on Thursday.

source: Reuters

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