Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
The Indian Rupee ended marginally weak against the dollar on Thursday in line with a broader weakness in Asian peers, as the worsening global inflation threat raised the risks of more aggressive rate hikes from central banks.
Asian and EM peers were weaker this Thursday afternoon trade with the Korean Won and the Malaysian Ringgit weakening against the dollar, by 0.18% and 0.13% respectively.
Nevertheless, further depreciation was capped after oil prices slumped over 3% on Thursday afternoon trade.
However, markets remained in a narrow trading band of 9-paisa this Thursday as most markets await the conclusion of most central banks.
The Rupee ended at 77.61/dollar compared with 77.52/dollar close on Wednesday.
NDF is currently trading at 77.56/57 this Thursday afternoon trade vs. a close at 77.46 on Wednesday.
Friday's range for the USDINR pair remains between 77.35-77.75.
Indian bond yields ended higher as markets braced for a rate hike next week.
The benchmark 6.54% bond ended at 7.43% against 7.41% close on Wednesday.
The U.S. Dollar Index is trading weaker this Thursday afternoon in Asian trade as investors await data.
Investors will await jobless claims and factory order data, along with ADP National employment numbers tonight.
The Euro, the Sterling and the Yen is trading with small gains against the Greenback this Thursday afternoon in Asian trade.
Rest of the session range for the Dollar Index is $101.86-$102.60.