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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Oct 21 ~ 10:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Today range ----61.10/61.40---------------------------
& current month-60.80/62.20--------------------
The Indian rupee gained for a second consecutive session on Monday after the ruling party’s success in two state elections and the government’s removal of diesel subsidies and a hike in natural gas prices sparked hopes for additional reforms. The Rupee closed at 61.36/37 against the Friday’s close of 61.44/45.
SPOT/INR ::The Indian rupee opened stronger at 61.30/31 as China’s economy grew 7.3 percent between July and September from a year earlier, slightly above the 7.2 percent forecast by analysts.. Most Asian currencies are also trading stronger against the dollar.
FORWARD PREMIUM:Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS :Asian stocks crept up on Tuesday as investors took solace from data showing the Chinese economy grew slightly more than expected in the third quarter, calming fears of a deepening slowdown in the world’s second largest economy. China’s economy grew 7.3 percent between July and September from a year earlier, slightly above expectations. But it slowed from 7.5 percent in the second quarter, the weakest in nearly six years. Other data showed factory output rose 8.0 percent in September from a year earlier, beating expectations for a 7.5 percent increase and up from August’s six-year low of 6.9 percent. However, fixed asset investment and retail sales figures were weaker than expected, suggesting that Beijing still has reason to announce a fresh round of economic support measures. Japan’s Nikkei stock average though extended losses throughout the morning as the yen strengthened and investors locked in profits after the previous session’s rally. The Nikkei slipped about 0.5 percent after surging 4 percent on Monday, its biggest rise since June 2013, buoyed by the global rebound as well as news that Japan’s $1.2 trillion public pension fund was likely to more than double its allocation to domestic stocks. Wall street marked solid gains overnight despite a quarterly earnings miss from IBM and Apple Inc posted a better-than-expected 12 percent Jump in revenue after the close. The yield on benchmark 10 years notes slipped to 2.175 percent in Asian trade, compared to Monday’s U.S close of 2.183 percent. The dollar about 0.1 percent against the yen to 106.81 yen, while the euro was steady at $1.2795.
TODAY'S ECONOMIC DATA :U.S. existing home sales for Sep at 19.30 IST.
NEAR TERM OUTLOOK FOR RUPEE :The Rupee is expected to continue as stronger as our Whole Sale price Index based Inflation dipped to 2.38 % for September compared to 3.74% for August.
POSITIVE FACTORS FOR RUPEE:
1. Heavy inflows in both equity and debt markets.
2. 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||61.39||61.85|
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 Tuesday, October 21, 2014 - 11:56 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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