Forex Analysis Report
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Get to see the latest forex market movement trends updated many times a day during forex trading hours. International Forex Market Trends and Market Analysis Report provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.
International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Feb 03 ~ 17:00 - Indian Standard Time.
Latest Market Rates (Updated Every 15-30 Minutes)
| Currency | Buy | Sell |
|---|---|---|
| ||
| US Dollar | 48.6800 | 48.7000 |
| Euro | 64.0000 | 64.2500 |
| GB Pounds | 77.0000 | 77.2500 |
Market Trend Analysis - INR / USD / EURO / GBP
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Previous day----49.15/49.16-----64.31/64.83-----77.57/78.01--------------
Today's opening-49.11/49.12--64.45/64.55---77.60/77.70--------------------
Today range ----48.88/49.3000---------------------------
& current month-48.30/51.0000--------------------
The Indian rupee hit a three month high on Thursday, encouraged by gains in domestic equities, and after manufacturing data in China and Germany boosted investor appetite in high yielding emerging market assets. The rupee closed at 49.15/16, after touching 48.9425, its highest since November 1.
color=green>SPOT/INR :The Indian rupee is likely to strengthen against the dollar on anticipation of dollar inflows, while caution in major financial markets before the key US jobs data will keep traders wary. Asian shares and major currencies were stuck in ranges on Friday ahead of the US jobs data, which will offer more clues over the state of the world’s largest economy.
FORWARD PREMIUM :Forward dollar premium may move in a narrow band tracking the spot market.
GLOBAL DEVELOPMENTS ::Major global currencies marked time early in Asia on Friday, as investors retreated to the sidelines ahead of a US jobs report that could reinforce the recent improvement in risk sentiment, or unravel it. Markets were also wary of possible official intervention to weaken the yen and Swiss franc, after Japanese and Swiss authorities indicated they were unhappy with their currency’s strength. Greek officials have said repeatedly that a deal is around the corner, and the European Union Economic and Monetary Affairs Commissioner reiterated on Thursday that the debt swap deal could be agreed by the end of the week. Testifying before Congress, Fed Chairman Ben Bernanke on Thursday said Europe’s financial crisis still threatened the US recovery, and said the Fed would do everything it can to ward off damage. Traders said any upside US Jobs data would boost risk sentiment further, but any disappointment could also add to the case for more stimulus from the Fed. Both outcomes could be bad news for the greenback.color=blue>
NEAR TERM OUTLOOK FOR RUPEE ::The government of India is biased towards inflation management versus growth, Reserve Bank of India Governor Duvvuri Subbarao told an international conference organized by the bank. RBI Governor said it pays to be unpredictable when it comes to intervening in the foreign exchange market as this approach makes intervention policy more effective. Today, the rupee may move in a range of 48.88 to 49.30.
POSITIVE FACTORS FOR RUPEE:
1. Strong GDP Growth
FACTORS AGAINST RUPEE:
1. Current Account Deficit 2. Inflation
Indicative / Forward / Cross Rates:
| Currency | For Export | For Import | Month | For Export | For Import |
|---|---|---|---|---|---|
| Indicative Rates | Indicative Forward Rates | ||||
| USD | 49.11 | 49.12 | FEB 2012 | 49.11 | 49.42 |
| Indicative Cross Rates | MAR 2012 | 49.33 | 49.80 | ||
| EURO | 1.3880 | 1.3170 | APR 2012 | 9.60 | 50.18 |
| GBP | 1.5765 | 1.5855 | MAY 2012 | 49.88 | 50.48 |
| JPY | 75.75 | 76.65 | JUNE 2012 | 50.08 | 50.78 |
| CHF | 0.9130 | 0.9220 | JULY 2012 | 50.26 | 51.06 |
Note: This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his own risks and no objection arises to TMB or any of its officials. All such trading involves risks.
Card Rates:
Exchange Rates Information last updated in part or full on Friday, February 03, 2012 - 10:25 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
| Currency | TT | Bills | Cheqs | Bills | TT |
|---|---|---|---|---|---|
| Foreign Currency | Buying | Selling | |||
| EURO | 64.02 | 64.04 | 63.95 | 65.26 | 65.16 |
| POUND STERLING | 77.24 | 77.26 | 77.17 | 78.41 | 78.29 |
| US DOLLAR | 48.99 | 49.01 | 48.92 | 49.49 | 49.41 |
| CANADIAN DOL | 48.49 | 48.49 | 48.42 | 49.80 | 49.77 |
| SWISS FRANC | 52.63 | 52.63 | 52.56 | 54.19 | 54.20 |
| HKD | 6.28 | 6.29 | 6.21 | 6.45 | 6.42 |
| YEN | 63.40 | 63.40 | 63.33 | 65.22 | 65.21 |
| SGD | 38.65 | 38.65 | 38.48 | 40.15 | 40.13 |
| AUD | 51.96 | 51.98 | 51.89 | 53.52 | 53.49 |
| Currency | CCY Buying | CCY Selling | TC Buying | TC Selling |
|---|---|---|---|---|
| EURO | 63.40 | 65.63 | 63.60 | 65.58 |
| GBP | 76.39 | 78.83 | 76.59 | 78.63 |
| USD | 48.40 | 50.15 | 48.83 | 49.48 |
Prime Rates:
Prime Rates for US Dollar w.e.f. December 18, 2008 is 3.25%
Interest Rates on FCNR-B Deposits
| Month | USD | GBP | EUR | CAD | AUD |
|---|---|---|---|---|---|
| |||||
| 12m | 2.35% | 3.14% | 2.98% | 3.12% | 6.13% |
| 18m | 2.07% | 2.82% | 2.70% | 2.78% | 5.61% |
| 24m | 1.78% | 2.49% | 2.42% | 2.44% | 5.09% |
| 30m | 1.83% | 2.50% | 2.46% | 2.47% | 5.11% |
| 36m | 1.87% | 2.51% | 2.50% | 2.50% | 5.13% |
| 42m | 1.97% | 2.57% | 2.58% | 2.56% | 5.25% |
| 48m | 2.06% | 2.63% | 2.66% | 2.61% | 5.37% |
| 54m | 2.18% | 2.69% | 2.76% | 2.68% | 5.44% |
| 60m | 2.30% | 2.75% | 2.85% | 2.75% | 5.50% |
NOSTRO: These accounts are Foreign Currency accounts maintained by us abroad. If the instructions are given as mentioned above, we will be able to apply the funds immediately on receipt of our account. The remittances can be made through the NOSTRO accounts for the credit of your account with us:
Our Contact Email ID: nospam@tnmbonline.com
