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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Sep 01 ~ 10:00 - Indian Standard Time.
Trend Indicators against INR
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Today range ------65.80/66.15-----------------------------------------------
& current month--65.20/66.90----------------------------------------------
The Indian rupee rose against the U.S. Dollar, as gains in global and local shares improved investors’ risk appetite, ebbing concerns over sharp foreign fund outflows. The rupee closed at 66.04/05 against the previous day close of 66.1375/1475.
SPOT/INR:The Indian rupee opened flat at 66.03/04 against the U.S. dollar, in line with most Asian currencies, as improving risk appetite after a rebound in global and local stock markets eases concerns of further foreign fund outflows.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment, with Chinese stocks jumping for the second day following a rocky start to the week. Wall Street rose sharply overnight thanks to revised U.S. gross domestic product data showing the economy grew faster than initially thought in the second quarter - a reassuring sign amid worries over deepening economic woes in China. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.3 percent. They were poised to gain 0.2 percent for the week after logging three-year lows as plunging Chinese shares had sent financial markets into a tailspin. Crude oil futures rose, extending the previous season's short-covering rally, which sent both U.S. crude and Brent rocketing more than 10 percent each, their biggest one-day gains since 2008. Oil plunged to 6-1/2-year lows earlier this week. U.S. crude CLc1 rose 0.9 percent to $42.94 a barrel, while Brent crude climbed 0.1 percent to $47.62. Besides the upbeat U.S. GDP, last week's jobless claims also fell more than expected. That kept alive speculation that the Federal Reserve could raise interest rates this year if the economic momentum continues. The dollar index, which tracks the greenback against a basket of six rival currencies, last traded at 95.692, up about 0.1 percent, after logging a one-week high of 96.031 in the previous session. The index remained well above a seven-month low of 92.621 touched on Monday. Gold was up 0.4 percent at $1,130 an ounce but still on track for a 2.6 percent loss for the week.
TODAY'S ECONOMIC DATA: France Producer Prices (MM) at 12.15 IST, Italy Business and Consumer Confidence at 13.30 IST, Eurozone Business Climate and Economic Sentiment at 14.30 IST, Germany CPI Prelim (MM & YY) at 17.30 IST, Canada Producer Prices (MM & YY) at 18.00 IST, US Personal Income (MM) at 18.00 IST, US PCE Price Index (MM&YY) at 18.00 IST.
NEAR TERM OUTLOOK FOR RUPEE:The Rupee is expected to continue as little stronger 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.
3.Fed's interest rate hike
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||SEPT 2015||66.03||66.45|
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 Friday, August 28, 2015 - 10:29 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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