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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Jul 01 ~ 15:30 - Indian Standard Time.
Trend Indicators against INR
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Today range ------63.45/63.80-----------------------------------------------
& current month--63.20/64.80----------------------------------------------
The Indian rupee ended flat against the US Dollar, as investors await Greece’s bailout negotiations ahead of a key debt repayment deadline due next week. The rupee closed at 63.6175/6275 against the previous day close of 63.5950/6050.
SPOT/INR: TThe Indian rupee opened little weaker at 63.64/65 against the U.S. dollar, tracking its Asian peers, as investors remain risk averse ahead of the outcome of Greece’s ongoing debt negotiations with its international creditors.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS: Asian equities fell on Friday as Greece failed again to reach an agreement with its creditors and stumbled towards a default, while major currencies like the euro and dollar drifted in narrow range as the debt saga sidelined investors. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.6 percent. Last-ditch talks by euro zone finance ministers will resume on Saturday to either avert a Greek default next week - Athens has to repay the International Monetary Fund 1.6 billion euros ($1.79 billion) on Tuesday - or start preparing for a "Plan B" to protect the euro zone from financial market turmoil. A breakdown in talks on Thursday again revealed the wide gap in understanding between Greece and its creditors, highlighting the prospect that neither side may accept any proposed concessions. Commentators also pointed to the fact that the German parliament has to ratify any changes first before paying for a bailout. But cautious optimism remained in some quarters with Italian, Portuguese and Spanish bond yields falling overnight on hopes for an eleventh-hour deal. The benchmark German 10-year bund yield on the other hand, edged higher. In currencies, the euro inched down 0.2 percent to $1.1181 stuck within a tight $1.1235-1153 range for the third day. It was poised to end the week about 1.2 percent lower. The dollar, hemmed in a 124.38-122.56 yen range this week, nudged down 0.2 percent to 123.43 yen. With Greece in the spotlight once again, upbeat U.S. data that could have otherwise lifted the dollar by fanning hopes for a rate hike by the Federal Reserve was relegated to the background. Figures on Thursday showed U.S. consumer spending recorded its largest increase in nearly six years in May, further evidence that economic growth was accelerating in the second quarter. Greek angst extended into commodities such as oil, with U.S. crude slipping 5 cents to $59.65 a barrel after finishing Thursday down 57 cents, or almost 1 percent.
TODAY'S ECONOMIC DATA:Germany Import (MM & YY) at 11.30 IST, France Consumer Confidence at 12.15 IST, Eurozone Money- Private Loans at 13.30 IST, Italy Business and Consumer Confidence at 13.30 IST, US U Mich Sentiment at 19.30 IST, US ECRI Weekly Index 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.
3.Fed's interest rate hike
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||AUG 2015||64.01||64.49|
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, June 26, 2015 - 10:48 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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