The Indian rupee opened higher by four paise at 68.42/$ against the previous close of 68.46/$.
The demonetisation drive of the government is likely to see some protests on the street in various parts of the country as few political parties have joined hands for ‘Akrosh Divas.’
Saudi Arabia seems to suggest that oil producers need not reduce output. With the Dow Jones having crossed the key milestone of 19000 & the S&P 2200 markets could see consolidation globally as investors take stock of the last fortnight. Also the rise in bond yields in tandem with the US $ may not last & pause here would be prudent as markets digest the gains.
Falling crude prices cooled Asian shares while the dollar has stepped back against Asian peers. India’s foreign exchange reserves fell for the second consecutive by $1.542 bn to $365.5 bn in the week ended Nov 18.