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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on May 04 ~ 17:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -66.3150/66.45----75.961/76.348-----96.805/97.561-------
Today range ------66.20/66.60-----------------------------------------------
& current month--66.10/66.90----------------------------------------------
The Indian rupee closed weaker against the U.S. Dollar, dragged down by losses in local shares and disappointing economic data. The rupee closed at 66.44/45 against the previous day close of 66.3250/3350.
SPOT/INR:The Indian rupee opened stronger at 66.35/36 against the U.S. Dollar, as persistent weakness in the greenback amid a lack of major cues lifted most Asian Currencies.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian stocks snapped a four-day losing streak on Tuesday as an overnight bounce in U.S. shares boosted risk appetite while gold briefly popped to a one-year high on growing expectations of more policy stimulus. Market attention will be focused on the Australian central bank's interest rate decision later in the day. Economists don't expect any change to policy at this meeting so a surprise rate cut would add to concerns about the lack of growth in the global economy. U.S. stocks rose on Monday, rebounding from losses last week, as financials gained with Berkshire Hathaway and dollar weakness eased worries about corporate earnings. In currency markets, the dollar nursed sharp losses sustained against other currencies in the previous sessions with a lackluster reading on growth in the U.S. manufacturing sector weighing on sentiment. The dollar index, which measures the dollar's performance against a trade-weighted basket of its peers, is trading at its lowest since January 2015. After raising interest rates in December for the first time in nearly a decade, the Fed held monetary policy steady last week. While it kept the door open to a hike in June, it gave no signal that it was in a hurry to tighten further given the economy's slowdown, even as the labour market has improved. Crude oil futures edged lower after hitting 2016 highs on Friday as fears of a global supply glut eased. Oil futures were broadly steady at $44.76 a barrel in Asian trading after hitting $46.78 a barrel on Friday, an 80 percent rally since their February lows.
TODAY'S ECONOMIC DATA:CH Consumer Confidence data at 11.15 IST, EZ Producer Prices data at 14.30 IST and US Domestic Car Sales data at 23.00 IST.
NEAR TERM OUTLOOK FOR RUPEE:The near term range has shifted lower with immediate resistance now at 66.90 and the psychologically 66.40 acting as a strong support..
POSITIVE FACTORS FOR RUPEE:
1.US ban lifted on Iran .
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence)
2. Current Account deficit.
3. Fed's interest rate hike
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||MAY 2016||66.63||67.11|
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 Wednesday, May 04, 2016 - 9:23 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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