Mark To Market Currency & Global Economy

Currency

The rupee was trading at 71.34 a dollar, up 0.16% from its previous close of 71.46.

In last six trading sessions, foreign investors have bought nearly $750 million in equity markets while so far this year they were net buyers of $221.70 million.

However in debt segment, FIIs remained sellers and sold nearly $672 million. Year to date, the rupee has declined 2.35%.

Asian currencies were trading mixed. Philippines peso was up 0.21%, South Korean won 0.06%, Japanese yen 0.05%. However, Thai Baht was down 0.47%, China Offshore 0.08%, Indonesian rupiah 0.07%.

Global Economy

The US has not formally informed India that it is ending preferential benefits for $5.6 billion worth of Indian export

The US withdrew duty benefits worth $75 million from Indian exports

The US has foregone $190 million in revenue due to the preferential tariffs under GSP on Indian exports ranging between 1% and 6%.

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