Get to see the latest forex market movement trends updated many times a day during forex trading hours. International Forex Market Trends and Market Analysis Report provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.
International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Nov 20 ~ 17:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Today range ----61.80/62.20---------------------------
& current month-61.20/62.35--------------------
The Indian rupee ended nearly flat on Thursday after a fall to a nine-month low had sparked mild intervention from the central bank, as emerging market currencies were hit by a weak reading in a private survey of China’s Manufacturing. The rupee closed at 61.94/95 against the Wednesday’s close of 61.96/97.
SPOT/INR ::The Indian rupee opened stronger at 61.89/90 against the dollar, tracking all Asian currencies. Traders however do not expect any major fall in the pair as the broad trend is bullish for the dollar. Nifty futures in Singapore marginally lower.
FORWARD PREMIUM:Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS :Asian shares took solace from data showing broad U.S. economic strength even as signs of spreading weakness in China and Europe checked risk appetite, while the yen nursed its losses after sliding to multiyear lows against the dollar and euro overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan was up slightly in early trade. It was on track for a weekly loss of over 1 percent, but was underpinned by record finished by the Dow Jones industrial average and S&P500 after a spate of U.S. data added up to a picture of broad economic strength. Initial U.S. weekly jobless claims fell, factory activity in the U.S mid Atlantic region grew at its fastest pace in two decades and existing home sales strengthened, in stark contrast to Thursday’s disappointing data releases from Europe and China. The dollar was steady against the yen from late U.S levels at 118.20 yen after it scaled a seven-year peak of 118.98 on the EBS trading platform on Thursday. The euro was also flat on the day at 148.26 after it soared to a six-year high of 149.12 yen in the previous session. In commodities markets, U.S.crude extended gains from Thursday, adding about 1 percent to $76.61 after closing higher on Thursday. The strong U.S economic data helped it snap a three-day losing streak, though oil markets remains wary ahead of whether the organization of the Petroleum Exporting Countries will agree on reducing production when it meets next week.
TODAY'S ECONOMIC DATA : Italy wage inflation data at 14.30 IST, Canada CPI data 19.00 IST, US weekly index at 21.30 IST.
NEAR TERM OUTLOOK FOR RUPEE :The Rupee is expected to continue as stronger as our September IIP data is +2.5% against expectation of +2.0%, October CPI inflation at 5.52% against expectation of 5.63%.
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||DEC 2014||61.92||62.44|
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, November 21, 2014 - 10:23 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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