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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on May 23 ~ 09:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -64.4375/64.64----72.08/72.58----83.67/84.10-------
Today range ------64.65/65.00-----------------------------------------------
& current month--63.70/65.80----------------------------------------------
The Indian rupee ended stronger at 64.5450/5550 against dollar from its previous close of 64.64/65, as higher local shares offset importer’s greenback demand, even as traders remained guarded amid uncertainty over Donald Trump’s economic agenda for the US.
SPOT/INR:The Indian Rupee opened weaker at 64.63/64 against the US Dollar, as the greenback came under pressure after German Chancellor Angela Merkel’s comments lifted the euro, even as deadly explosion in Britain’s Manchester city weighed on risk appetite.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Sterling extended losses on Tuesday after a suspected terrorist attack killed at least 19 people and wounded 50 at a pop concert in Manchester, while the euro held gains made after German Chancellor Angela Merkel said the currency was "too weak." The incident took place just two-and-a-half weeks before an election that Prime Minister Theresa May is expected to win easily, though polls showing that was the contest tightening had put sterling under some pressure. Sterling eased 0.1 percent to $1.299, extending Monday's 0.3 percent loss. Overnight, Wall Street closed as much as 0.8 percent higher, driven by defense and technology stocks, after U.S. President Donald Trump announced arms deals and other investments with Saudi Arabia over the weekend that Secretary of State Rex Tillerson said could add up to $350 billion. An uncertain political climate in the U.S. continued to weigh on the dollar, but a slowdown in Japanese manufacturing activity limited losses versus the yen. The dollar weakened 0.1 percent to 111.15 yen. The dollar index, which tracks the greenback against a basket of trade-weighted peers, was almost 0.1 percent lower at 96.916. Losses were also kept in check by a gauge of U.S. economic activity that improved in April to its highest level since late 2014, suggesting an acceleration in production and hiring activity following an anaemic first quarter. The White House is set to deliver President Donald Trump's first full budget to lawmakers on Tuesday, a plan that would cut $3.6 trillion in government spending over 10 years, balancing the budget by the end of the decade. Presidential budgets are often ignored by Congress, which controls federal purse strings. In commodities, oil prices were higher on growing confidence that top exporters would agree to extend supply curbs this week and speculation that the cuts could be deepened further.
TODAY'S ECONOMIC DATA:Japan Nikkie Mfg PMI @ 06.00 IST, China Trade @ 11.30 ISt, Denmark GDP QQ & YY @ 11.30 IST, France Business Climate, Markit Mfg, Serv, Comp Flash, Mfg FlashPMI, Ifo Business climate, Ifo Expectations, @ 13.30 IST, Canada wholesale Trade MM @ 18.00 IST, US Redbook Mm & YY @ 18.25 IST, US Markit Mfg, Serv, Comp Flash, Mfg FlashPMI, New home sales, Rich Fed data @ 19.30 IST, Japan Reuters Tankan DI @ 04.30 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||JUNE 2017||64.56||6.87|
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, May 26, 2017 - 10:25 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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