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International Forex Market Rates for USD, Euro and Pounds provided below was last updated on Aug 08 ~ 10:00 - Indian Standard Time.
Last Updated in part or full on Tuesday, August 20, 2019 - 10:57 am (GMT +05:30:00)
Trend Indicators against INR
- - - - - - - - - - - - - - - - -USD - - - - - - - - - EURO - - - - - - - -GBP - - - - - -
Today range --------71.40 to 71.80------------------------------------------------
& Current month----69.50 to 72.50-----------------------------------------------
The Indian rupee opened weaker against the dollar at 71.59/60, weighed by the U.S.
currency's advance against its peers and the Chinese yuan's decline.
The Indian rupee ended weaker at 71.43/44 against dollar from its previous close of
71.15/16 on likely custodian outflows and as local shares retreated, erasing most of its
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
Asian shares extended their gains on Tuesday as hopes for stimulus in major economies
tempered anxiety about a global recession, boosting riskier assets and drawing money
from safe-havens such as bonds and gold. MSCI's broadest index of Asia-Pacific shares
outside Japan rose 0.31%, while Japan's Nikkei rose 0.45%. The improved mood was
helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21%. Shares in
China and Hong Kong opened lower and swung in and out of negative territory after China
lowered its lending reference rate only slightly in the first publication of a new benchmark
since new interest rate reforms were announced on Saturday. Senior White House officials
are discussing a temporary payroll tax cut to boost the economy, the Washington Post
reported on Monday. Hopes for additional stimulus are rising after reports that Germany is
prepared to increase fiscal spending, and after the People's Bank of China took steps to
lower corporate borrowing costs. U.S. stock futures were a shade lower in Asian trading,
down 0.14%, while benchmark 10-year Treasuries yields eased slightly to 1.5893%, and 2-
year yields traded at 1.5248%. Elsewhere, Australia's S&P/ASX 200 rose 0.69%, while
South Korea's KOSPI index rose 0.24%. China set its new one-year Loan Prime Rate at
4.25%, down 6 basis points from 4.31% previously. It was 10 basis points lower than the
People's Bank of China's existing benchmark one-year lending rate. The new five-year LPR
rate was set at 4.85%, according to the national interbank funding centre. Chinese shares
initially fell at the open but recovered to trade up 0.19%. Stocks in Hong Kong also rose
0.15%, erasing an earlier loss. Markets overwhelmingly expect the Fed to cut rates again
at its Sept. 17-18 policy meeting from the current 2.00%-2.25%. The Fed cut rates in July
for the first time in a decade to mitigate the effects of the U.S.-China trade row and a
global slowdown. Last week, financial markets went into a tailspin after the Treasury yield
curve briefly inverted when short-term yields traded above those of long-term paper.
Investors, who feared a steep global downturn given an inverted yield curve has presaged
several past U.S. recessions, dumped riskier assets. However, a bounce in yields from lows
hit last week has eased some of the concerns about the global economy. The Swiss franc
another safe-haven asset, was last quoted at 0.9815 per dollar, near a two-week low. Gold
which is traditionally bought as a safe-haven during times of uncertainty, held steady at
$1,495.69 per ounce after tumbling 1.2% on Monday.
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||SEP 2019||71.61||71.92|
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, August 20, 2019 - 10:57 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|
|Currency||1y - <2y||2y - <3y||3y - <4y||4y - <5y||5y|
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