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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Apr 18 ~ 09:00 - Indian Standard Time.
Trend Indicators against INR
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Previous day--- -64.88/64.99----69.64/69.91-----80.50/80.99-------
Today range ------64.80/65.10-----------------------------------------------
& current month--64.50/65.50----------------------------------------------
The Indian rupee ended stronger at 64.90/91, against dollar from its previous close of 65.0350/0450, helped by bunched up inflows of the US currency following yesterday’s holiday and greenback sales by corporates. Further gains in the local currency were curbed by dollar purchases by state run banks, likely on behalf of central bank.
SPOT/INR:The Indian Rupee opened little stronger at 64.87/88 against the US Dollar, as foreign investors continue to pump money into the nation’s markets ahead of the end of the financial year.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian shares edged up to near their highest in two years on Thursday, while the dollar benefited from waning expectations that the European Central Bank was poised to end its easy policy. The dollar index, which tracks the U.S. currency against a basket of six major rivals, was steady on the day at 100.030. It was lifted to a one-week high overnight as the euro slipped on concerns about the impact of Brexit as well as news that European Central Bank policymakers are keen to reassure investors that their easy-money policy is far from ending. The euro was down 0.1 percent at $1.0752, after Reuters reported ECB policymakers were wary of changing their policy message after tweaks this month upset investors and raised chances of a surge in borrowing costs. Prime Minister Theresa May formally began Britain's exit from the European Union on Wednesday, launching a two-year negotiation process before the divorce comes into effect in late March 2019. That had raised fears that President Donald Trump might face challenges in getting his promised stimulus and tax reform policies passed as well, which pressured the greenback. But underpinning the dollar, Chicago Federal Reserve President Charles Evans, a voter on the policy-setting Federal Open Market Committee, said on Wednesday he supports further interest rate hikes this year given progress on the Fed's goals of full employment and stable inflation. U.S. crude futures were up 0.1 percent at $49.56 a barrel in early Asian trading, while Brent crude futures were steady at $52.42 after adding 2.1 percent on Wednesday. Oil prices surged on Wednesday as U.S. crude inventories grew less than expected, supply disruptions continued in Libya and the OPEC-led output cut looked likely to be extended.
TODAY'S ECONOMIC DATA:Denmark SN, BB, BY, HE State CPI MM & YY @ 13.30 IST, Eurozone Business Climate, Economic sentiment, Industrial Sentiment, Services Sentiment, US Corporate profits, GDP Final, Core PCE Prices Final, PCE Prices Final, Initial Jobless Claims, Continued Jobless Claims @ 18.00 IST, Britain Gfk consumer confidence @ 04.31 IST, Japan All household spending MM & YY, CPI, Jobs applicants raio, Unemployment rate, Industrial Output, IP Forecast 1 Mth Ahead, 2 Mth Ahead @ 05.20 IST.
NEAR TERM OUTLOOK FOR RUPEE:The near term range has shifted higher with immediate Resistance now at 67.50 and the psychologically 66.75 acting as a strong support.
POSITIVE FACTORS FOR RUPEE:
1.US ban lifted on Iran .
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence)
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||APR 2017||64.92||65.17|
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 Monday, April 24, 2017 - 9:44 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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