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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Oct 30 ~ 16:30 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Today range ----61.25/61.45---------------------------
& current month-60.80/62.20--------------------
The Indian rupee hit a two-week low on Thursday, falling for a third consecutive session as the dollar got a boost after the U.S. Federal Reserve struck a more hawkish tone than expected at its policy meeting. The Rupee closed at 61.45/46 against the Wednesday’s close of 61.35/36.
SPOT/INR ::The Indian rupee opened stronger at 61.39/40 against the dollar. Most Asian currencies are trading stronger against the dollar. Nifty futures traded in Singapore up 0.65 percent.
FORWARD PREMIUM:Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS :The dollar held at four-week highs against a basket of major currencies early on Friday, getting another boost from encouraging growth data a day after the Federal Reserve gave an upbeat assessment on the economy. The dollar index climbed as far as 86.491 – a high last seen on Oct. 6 – after U.S. gross domestic product grew at an annual pace of 3.5 percent in the third quarter, beating forecasts for 3.0 percent. Against the yen, the greenback bough 109.32, near a four-week high of 109.47 reached overnight. The euro fell as low as $1.2545, but managed to recover to $1.2606. The GDP report should go some way in justifying the Fed’s optimistic stance on the economy when it announced the end of its monthly bond buying stimulus program on Wednesday. With the Fed policy meeting and U.S. GDP data out of the way, the focus should now turn to the Bank of Japan, which wraps up its policy review later in the day. It is also due to release its semi-annual report. The BOJ is widely expected to maintain its massive asset buying programme and keep its forecast that inflation will hit its 2 percent target next year, suggesting no further stimulus is on the horizon. In Europe, all eyes will be on the region’s latest inflation reading. Data on Thursday showed annual inflation in Germany unexpectedly slowed in October, while Spanish consumer prices fell; suggesting the risk of deflation in the wider euro zone has not yet abated.
TODAY'S ECONOMIC DATA :Germany Retail sales for Sep at 12.30 IST, France Consumer Spending for Sep at 13.15 IST, Italy Unemployment rate for Sep at 14.30 IST, Euro Zone Inflation for Oct at 15.30 IST, Euro Zone Unemployment rate for Sep at 15.30 IST, Italy Consumer Price for Oct at 15.30 IST, Italy Producer Prices for Sep at 16.30 IST.
NEAR TERM OUTLOOK FOR RUPEE :The Rupee is expected to continue as stronger as our Whole Sale price Index based Inflation dipped to 2.38 % for September compared to 3.74% for August.
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||61.69||62.21|
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, October 31, 2014 - 10:11 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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