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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Nov 28 ~ 17:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Today range ----61.70/62.00---------------------------
& current month-61.20/62.35--------------------
The Indian rupee ended slightly lower on Thursday after trading in a thin band through the day as demand for the greenback from importers to meet month-end commitments weighed despite the dollar’s weakness against other Asian units. The rupee closed at 61.87/88 against the Wednesday’s close of 61.84/85.
SPOT/INR ::The Indian rupee opened flat 61.88/89 against the dollar, tracking all Asian currencies. Month end dollar demand from importers likely to aid pair. Nifty futures in Singapore is up 0.5 percent. Almost all Asian currencies trading weaker compared with the dollar.
FORWARD PREMIUM:Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS :Oil prices, oil-related shares and oil-linked currencies all tumbled in Asia, on Friday, in the wake of OPEC’s decision to refrain from cutting output despite a huge oversupply. U.S. markets were closed on Thursday for the Thanksgiving holiday, leaving the spotlight on the Organization of Petroleum Exporting countries meeting in Vienna where Saudi Arabia blocked calls from poorer cartel members to cut production to stem a slide in global prices. Crude prices had been under pressure ahead of the meeting, but the sharp dive afterward- the largest since 2011- showed the decision was not fully priced in. Brent crude plunged 6.9 percent to $68.59. In the short term, given market scepticism that recent price levels are low enough to substantially slow U.S. output growth, we expect price levels to drop below $70/bbl for Brent and even lower for WTI(U.S.crude). MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.4 percent, on track for a weekly gain over 1 percent but a monthly loss of more than 1 percent. The Nikkei stock average bucked the regional downtrend and added 0.7 percent in early trading, on track for a slight weekly drop but a hefty monthly gain of over 5 percent. The dollar rose about 0.3 percent against the yen to 118.8 yen while the euro drifted down about 0.1 percent to $1.2452. But the greenback made dramatic moves against the currencies of oil-rich countries. The dollar rallied to 6.9501 Norwegian crowns a high not seen in over five years, and was last at 6.9442.
TODAY'S ECONOMIC DATA :Japan construction orders data at 10.30 IST, Germany retail sales data at 12.30 IST, Great Britain nationwide house data at 12.30 IST, France consumer spending and producer price data at 13.15 IST, Italy employment data at 14.30 IST, Euro Zone inflation data at 15.30 IST.
NEAR TERM OUTLOOK FOR RUPEE :The Rupee is expected to continue as stronger as our September IIP data is +2.5% against expectation of +2.0%, October CPI inflation at 5.52% against expectation of 5.63%.
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||JAN 2014||62.24||62.72|
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, November 28, 2014 - 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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