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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Sep 30 ~ 13:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Today range ----61.25/61.50---------------------------
& current month-59.50/61.75--------------------
The Indian rupee rebounded sharply from a one-and-a-half month low hit early on Friday after standard and poor’s raised the country’s sovereign rating outlook, with the recovery in local shares also aiding. The Rupee closed at 61.14/15 against the Thursday’s close of 61.34/35.
SPOT/INR ::The Indian rupee opened weaker at 61.35/36 taking cues from the US dollar’s broad strength globally after fresh evidence of sustained recovery in the US economy boosted expectations of a hawkish stance by the Federal Reserve in its October policy meeting.
FORWARD PREMIUM:Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS :The dollar started the week close to a six-year peak against the yen and touched a fresh four-year high against a basket of currencies, getting a tailwind from data showing higher U.S. growth in the second quarter. The Commerce Department on Friday raised its estimate of gross domestic product to show the economy expanded at a 4.6 percent annual rate – its fastest pace in 2-1/2 years. The dollar added about 0.1 percent to 109.36 yen, and earlier got within a few ticks of last Friday’s six-year peak of 109.54 yen. The dollar index, which tracks the U.S. unit against a basket of major rivals, climbed as high as 85.737. It was last up about 0.1 percent on the day at 85.714. In Asia, market participants turned their focus to Hong Kong after thousands of pro-democracy demonstrators blocked part of the city and clashed with police. Some Hong Kong financial firms advised staff to work from home on Monday or go to secondary offices due to the street clashed. The euro edged down 0.1 percent to $1.2678, after touching a nearly two-year low of $1.2667, and pressure remained on the European unit ahead of euro zone data this week, as well as a central bank meeting.
TODAY'S ECONOMIC DATA :U.K. Bank of England Consumer Credit for Aug at 14.00 IST, Euro Zone Business Climate for Sep at 14.30 IST, Euro Zone Economic Sentiment for Sep at 14.30 IST, Euro Zone Industrial Sentiment for Sep at 14.30 IST, Germany CPI For Sep at 17.30 IST.
NEAR TERM OUTLOOK FOR RUPEE :The Rupee is expected to continue as stronger as our Whole Sale price Index based Inflation dipped to 3.74 % for August compared to 5.19 % for July.
POSITIVE FACTORS FOR RUPEE:
1. Heavy inflows in both equity and debt markets.
2. New Central Government Reforms .
3. Maintenance of EEFC accounts at 100% on certain conditions
FACTORS AGAINST RUPEE:
1.Demand from importers. (Oil & Defence).
2.Geo-political situation in Iraq and Ukrain.
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||NOV 2014||61.75||62.22|
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.
Exchange Rates Information last updated in part or full on Monday, September 29, 2014 - 9:51 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
|Currency||CCY Buying||CCY Selling||TC Buying||TC Selling|
Prime Rates for US Dollar w.e.f. December 18, 2008 is 3.25%
|Currency||1y - <2y||2y - <3y||3y - <4y||4y - <5y||5y|
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