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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Apr 27 ~ 17:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Today range ------63.40/63.90-----------------------------------------------
& current month---61.90/64.20----------------------------------------------
The rupee ended little weaker against the U.S dollar tracking losses in local equities and tax-related worries triggering dollar outflows. The rupee closed at 63.56/57 against the previous day close of 63.32/33.
SPOT/INR: The Indian rupee opened weaker at 63.66/67, against the U.S. dollar, as disappointing U.S. economic data pushed back expectations of a Federal Reserve rate increase hurting demand for the greenback and also month-end demand from importers.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS: Asian shares scaled seven-year highs following stellar earnings from a few U.S. hi-tech giants, but investors were cautious ahead of central bank meetings this week in the U.S. and Japan and on deadlock in creditors' talks with Greece. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.7 percent while Japan's Nikkei was flat. Red-hot mainland Chinese shares soared, with Shanghai composite index rising 2.1 percent to seven-year highs on hopes of more monetary stimulus and launch of infrastructure projects linked to China's "Modern Silk Road" plan. The MSCI All-Country World Index US also hit a lifetime high on Friday. The bull run's dependence on low interest rates and strong central bank, however, has made investors cautious as the Federal Reserve is expected to raise U.S. interest rates from around zero in coming months. Still, few expect the Fed to use its two-day meeting starting on Tuesday to hint at a move in June following soft U.S. business spending data published on Friday. The soft U.S. data also helped to keep the dollar near a three-week low against its index basket of currencies. The dollar index stood at 96.913 . on Monday, having hit a three-week low of 96.755 on Friday. Against the yen, it eased slightly to 118.86 yen near its low so far this month of 118.525 touched a week ago. Speculators are cutting yen short positions, unwinding bets that the Bank of Japan may surprise the markets by further easing monetary policy on Thursday. The euro stood at $1.0865 near a three-week high of $1.0900 on Friday, but the common currency was hampered by growing uncertainty over the likely outcome of Greece's negotiations with creditors. After no deal was reached between Greece and euro zone finance ministers in their meeting on Friday, German Finance Minister Wolfgang Schaeuble hinted on Saturday that Berlin was preparing for a possible Greek default.
TODAY'S ECONOMIC DATA:Germany Import Prices (MM & YY) at 11.30 IST, Great Britain CBI Trends – Orders at 15.30 IST, US Markit Comp Flash PMI at 19.15 IST, US Markit Svcs PMI Flash at 19.15 IST and US Dallas Fed Mfg Bus Idx at 20.00 IST.
NEAR TERM OUTLOOK FOR RUPEE: The Rupee is expected to continue as flat against greenback.
POSITIVE FACTORS FOR RUPEE:
1. Heavy inflows in both equity and debt markets.
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence)
2. Current Account deficit.
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||MAY 2015||63.66||64.12|
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, April 27, 2015 - 11:08 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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