The rupee is lower at 69.58 against the dollar

MUMBAI: Rupee dived 14 pays and ended on Friday at 69.58 against the dollar, under pressure to strengthen the price of crude oil due to intensification of geopolitical tensions in the region of the Gulf. Widespread sales on domestic capital markets also kept the feeling of low falls, forex traders say.
On the Forex market, the domestic currency fell sharply to 69.75 dollars. However, he recovered some losses to finish at 69.58, registering a fall of 14 paise. Rupee rose to 69.44 dollars on Thursday.
“The rise in the price of crude oil overnight has burdened the Indian rupee because it weakened most among Asian currencies.” The geopolitical risks of the escalation of US-Iran tensions have increased the price of crude oil.In the short term, the rupee has a resistance of 69.03 and support at 70.01, 100 days of a simple moving average, “said VK Sharma, head of PCG and Capital Market Strategy, HDFC Securities.
Secure shelters, such as the yen, rose after reports said US President Donald Trump approved military attacks on Iran, but later opposed it.
Geopolitical tensions in the Middle East have increased after the attack on two oil tankers and the collapse of the US surveillance drone.
Brent crude oil, a global benchmark for oil, has raised 1.44 percent to $ 65.38 a barrel over concerns that a US-Iranian bailout could lead to a discontinuation of supply. “The yields of sovereign sovereign bonds in India rose from a 20-month low of 6.79 percent to 6.86 percent, due to concerns that higher oil prices will inflate inflation and the budget deficit will increase. Yields have fallen more than 50 bps the last six months of the week, “said Mr. Sharma.
The yield on the 10-year government bond rose to 1.35% on Friday to 6.88%. On a net basis, foreign institutional investors sold shares worth Rs. 438.41 crore on Thursday, while domestic institutional investors bought shares in the amount of Rs. 1.241,23 crore, provisional stock exchange data are displayed.
On Friday, BSE Sensex fell into a three-session win in the race, while on Friday the US and Iran’s global tensions increased.
The BSE collection with 30 shares was 407.14 points or 1.03 percent, which is lower to 39,194.49 points. Likewise, the NSE Nifty broader has fallen by 107.65 points, or 0.91%, to 11,724.10.
The dollar index, which measures the strength of the dollar against the basket of six currencies, fell by 0.03 percent to 96.59.

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