INSUBCONTINENT EXCLUSIVE:
The rupee recovered some ground on Friday, a day after it declined about 0.6 per cent amid concerns
about a slowing global economy
Rising by 16 paise against the greenback, the rupee settled at 69.14 for the day after a choppy session
For the week, the rupee declined by 19 paise against the dollar, concluding the month with an overall gain of 2.2 per cent - or 158 paise -
on the back of strong dollar inflows into equities.That marked its highest monthly gain against the US currency since November,
Here are 10 things to know about the movement in the rupee against the dollar (INR vs USD)Continued foreign fund inflows in
the capital markets and advances in the domestic equity markets supported the currency, say analysts.Domestic markets extended their gains
to a second straight session, with benchmark indexes Sensex and Nifty finishing 0.3 per cent and 0.5 per cent higher respectively
(Read: Sensex returns 17% in financial year 2018-19)Optimism in the global peers about the ongoing trade talks between the US and China also
supported the sentiment, analysts added.Global shares rose on Friday and were headed for their best quarterly performance since 2012
MSCI's All-Country World Index, which tracks shares in 47 countries, was set to post its best quarterly performance since March 2012.US
Treasury Secretary Steven Mnuchin said on Friday he had a "productive working dinner" the previous night in Beijing, before talks aimed at
resolving the trade dispute between the world's two largest economies."The RBI intervened to drain dollars that banks had acquired before
the foreign-exchange swap earlier this week that also supported rupee appreciation," said VK Sharma, head PCG and capital markets strategy
at HDFC Securities.The RBI received bids worth $16.31 billion in its rupee-dollar swap auction that conducted on Tuesday
That stood more than three times higher compared with the notified amount of $5 billion.A jump in crude oil prices battered the rupee
against six major currencies - was last seen trading 0.1 per cent lower at 96.653.Meanwhile, crude oil prices soared in anticipation of a
tightening supply , with Brent futures - the global benchmark for crude oil - last seen trading 1.74 per cent higher at $68.75 per barrel
Crude oil markets were on track for their biggest quarterly rise since 2009.Foreign institutional investors (FIIs) net buyers in the capital
markets, putting in Rs 3,594.51 crore on Thursday, provisional data from the NSE showed
Till Thursday, FIIs net purchased equities worth Rs 30,459 crore this month, marking a nearly 77 per cent increase from Rs
17,220 crore in the previous month, according to data from depository NSDL.(With agency inputs)Get the latest election news, live updates
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