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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Mar 24 ~ 09:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -65.38/65.57----70.50/70.74-----81.56/82.02-------
Today range ------65.35/65.65-----------------------------------------------
& current month--65.00/66.50----------------------------------------------
The Indian rupee ended weaker at 65.52/53, against dollar from its previous close of 65.44/45, as greenback demand from oil and other importers outweighed early gains triggered by strong local shares.
SPOT/INR:The Indian Rupee opened little stronger at 65.48/49, against the US Dollar as a delayed vote on U.S. President Donald Trump’s healthcare bill reignited concerns about the implementation of his economic growth agenda, keeping the greenback under pressure.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:The dollar recouped a little lost ground on Friday amid signs a delayed vote on President Donald Trump's healthcare bill would go ahead later in the day, though it remained unclear whether it would pass. Investors regard the vote as test for the Trump presidency that could show whether it can muster the backing needed to push through fiscal measures central to its economic agenda. Some in the markets suspect a failure to pass the bill could endanger Trump's promises of tax cuts and stimulus so beloved by Wall Street and U.S. corporate. Adding to the unease was a Reuters report that the Trump administration is preparing new executive orders to re-examine all 14 U.S. free trade agreements, including those in Asia, to aid American companies. After falling sharply mid-week, Wall Street had lapsed into waiting mode on Thursday with the Dow down 0.02 percent. The S&P 500 lost 0.11 percent and the Nasdaq 0.07 percent. As stocks stalled, bonds rallied. The central bank issued an upbeat outlook on the Euro zone economy overnight. The net result was a contraction in the dollar's yield advantage over the euro, which has seen the single currency steady at $1.0773 after scoring a six-week top of $1.0828 earlier this week. The dollar did gain 0.4 percent on the yen to 111.35, having hit a four-month low of 110.62 the day before. Against a basket of currencies, it was up 0.15 percent at 99.911 having shed 1.3 percent in the past two weeks. "Moreover, the euro is looking more appealing, with the growth gap with the U.S. not as wide as previously thought and the euro having lost some of its political risk premium as European voters edge away from local Trump wannabes." In commodity markets, safe-haven spot eased a touch to $1,243.30 an ounce after hitting three-week high of $1,253.12. Oil prices idled near four-month lows on investor concerns that OPEC-led supply cuts were not yet reducing record U.S. crude inventories. U.S. crude inched up 10 cents to $47.81, while Brent crude added 7 cents to $50.63.
TODAY'S ECONOMIC DATA:Japan Nikkei Mfg PMI @ 06.00 IST, France GDP QQ Final, Markit Mfg, Serv, Comp, Flash PMI @ 13.30 IST, Denmark Markit Mfg, Serv, Comp, Flash PMI @ 14.00 IST, Eurozone Markit Mfg, Serv, Comp, Flash PMI @ 14.30 IST, US Build Permits, Durable Goods, Nondefe Cap Ex Air @ 18.00 IST, US Markit Mfg, Serv, Comp, Flash PMI @ 19.30 IST, US ECRI weekly index, annualized @ 20.00 IST. US Markit Mfg PMI Flash @ 20.15 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||65.49||65.83|
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, March 24, 2017 - 10:21 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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