- Indian currency ended at 75.54 on Friday, up 18 paise against its previous close of 75.72.
- FBIL set the reference rate for USDINR at 75.6911 and Euro at 81.9765.
- US dollar edged higher on better jobs report and eyeing economic re-opening.
- US Nonfarm payrolls released on Friday showed "economy lost fewer jobs than expected in April".
- In economic news, US to release its inflation numbers tomorrow.
- Euro was steady while UK's pound to take cues from PM's speech.
- BoJ is scheduled to release its Summary of Opinions today.
- PBOC has set the Yuan reference rate at 7.0769 versus Friday's fix at 7.0788.
USDINR Outlook
Following the positivity in the domestic equities and capital inflows supported the Indian currency to close higher by 18 paise on the last trading day of the week. Weakness in the USD ahead of the jobs report also aided the Rupee. Local unit on Friday opened higher at 75.36 a dollar but gave up some of its gains to end at 75.54 against its Wednesday's closing of 75.72. On Thursday, Indian currency markets were shut on account of Buddha Pournami.
FIIs were buyers in the capital market segment on 08 May; bought shares worth Rs 1724.71 as per exchange's provisional figures. DIIs, on the other end were sellers to the tune of Rs 1503.14cr for the same period. Oil prices fell on the concerns of a economic growth. In the week apart from Covid-19 developments, investors will also be watchful on the economic numbers with domestic industrial production and inflation figures are due this week.
For USDINR, 75.74 and 76.06 may act as a crucial level in the upside while 75.39 and 75.14 will act as major support levels.