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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Sep 17 ~ 15:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Today range ----60.90/61.15---------------------------
& current month-59.50/61.75--------------------
The Indian rupee recovered on Tuesday from a one-month low hit in the previous session on bargain-hunting, but sentiment was broadly cautious a day before the outcome of the Federal Reserve’s meeting. The Rupee closed at 61.05/06 against the Monday’s close of 61.13/14.
SPOT/INR ::The Indian rupee opened stronger at 60.97/98 taking cues from the greenback’s slight weakness globally and on improved risk appetite.
FORWARD PREMIUM:Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS :The U.S. dollar nursed modest losses early on Wednesday, having suffered an unexpected setback as jitters mounted hours before the Federal Reserve offers its latest guidance on interest rates. The Wall Street Journal’s Fed watcher said that the U.S. Central Bank may keep the words “considerable time” in its policy statement following the Sept 16-17 meeting. Markets have been bracing for a more hawkish tone and many were looking for the Fed to drop its promise to keep rates near zero for a “considerable time” after ending its bond-buying program. The dollar index, which had been drifting just below a 14-month peak of 84.519, promptly fell to its lowest in over a week. It was last at 84.114, having sunk as far as 83.864 overnight. Against the yen, the greenback slid to a low of 106.81, pulling further away from a six-year peak of 107.39 set last Friday. The euro climbed to a near two-week high just shy of $1.3000, before steadying at $1.2954. The common currency all but brushed aside a closely watched survey that showed a drop in German analyst and investor morale to lows not seen since December 2012. There is little in the way of major economic news out of Asia on Wednesday, leaving the focus squarely on the Fed statement and Fed Chair Janet Yellen’s media briefing due later in the day.
TODAY'S ECONOMIC DATA :U.K. BOE Vote hike for Sep at 14.00 IST, U.K. ILO Unemployment Rate for Jul at 14.00 IST, Euro Zone Inflation for Aug at 14.30 IST, U.S. CPI for Aug at 18.00 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||OCT 2014||61.11||61.64|
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 Wednesday, September 17, 2014 - 10:45 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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