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International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Feb 20 ~ 12:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -66.9850/67.1525----71.27/71.67-----83.02/83.95-------
Today range ------66.90/67.20-----------------------------------------------
& current month--66.50/67.80----------------------------------------------
The Indian rupee ended stronger at 67.0050/0150, against dollar from its previous close of 67.0675/0775, as greenback sales by exporters amid gains in local shares increased hopes of foreign fund inflows, outweighing losses triggered by banks’ demand for the US currency.
SPOT/INR:The Indian Rupee opened weaker at 67.06/07 against US Dollar, as growing political uncertainty in the euro zone keeps risk sentiment subdued. Dealers expect trading at home to remain thin in the holiday–shortened week.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian share markets were mixed on Monday as political uncertainty globally kept the mood cautious, while the U.S. dollar recouped early losses ahead of a busy week for Federal Reserve speakers. Turnover was light with U.S. markets closed for the Presidents Day holiday. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent and back toward a 19-month peak set last week. Wall Street had ended last week on a roll, with all three major indexes making historic highs and the Dow Jones Industrial Average reaching a seventh straight record close. A host of results from retailers are due this week, including Wal-Mart Stores, Macy's and Home Depot Inc. The results will be watched for a read on spending as well as for commentary from executives on President Donald Trump's proposal to tax imports. On the interest rate front, no less than five heads of regional Federal Reserve bank are due to speak this week while Fed Board Governor Jerome Powell appears on Wednesday. Cleveland Federal Reserve President Loretta Mester said on Monday she would be comfortable raising interest rates at this point if the economy kept performing the way it did. Speculation the central bank could hike as soon as March has generally underpinned the U.S. dollar, though large long positions leave the market vulnerable to sudden pull backs. European politics kept the euro skittish. On Friday, news the French left could unite behind one candidate in the presidential elections seemed to increase the chance of anti-EU, anti-immigrant Marine Le Pen winning and knocked the single currency lower. The euro stood at $1.0610 on Monday, having fallen 0.6 percent on Friday, not far from the recent five-week low of $1.0520. Risk aversion sparked a rally in German bonds while widening the spread against French debt. Oil prices were a shade lower having suffered the first weekly decline in five weeks as the market weighed rising U.S. drilling and record stockpiles against efforts by major producers to cut output to reduce a global glut. Brent futures were off 8 cents at $55.74 a barrel, while U.S. West Texas Intermediate crude for April delivery eased 2 cents to $53.76 a barrel.
TODAY'S ECONOMIC DATA:Denmark producer prices MM & YY @ 12.30 IST, Britain CBI Trends – orders @ 16.30 IST, Canada wholesale Trade MM @ 19.00 IST, Eurozone Consumer Confid Flash @ 20.30 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||MAR 2017||67.08||67.42|
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 Monday, February 20, 2017 - 9:55 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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