NRI Newsletter - Market News

NRI Newsletter - Market News

 

DATE: Monday, 01st September 2014

USD/INR: as on 28th August, 2014 **
 
Indian  rupee marginally weakened on Thursday ahead of key indicators including economic growth data due on Friday, retreating against the dollar for a third consecutive month due to a flare-up of global geopolitical risk events. Rupee closed weaker at 60.50 per dollar versus Wednesday's 60.4550 close.
Mumbai Forex and Money Market would be closed on Friday 29 Aug 2014 on account of Ganesh Chaturthi.

Rupee Forward premiums (as on 28th August, 2014) **
One year Bench Mark forward premiums closed higher for the day on Thursday. The bench mark one year premium closed at 8.25% on Thursday, against its previous close of 8.21% on Wednesday.  
USD/INR as on 28th August, 2014 **
Currency
OPEN
HIGH
LOW
CLOSE
USD/INR
60.40
60.70
60.36
60.50
Highest till date: 68.85 on 29th August, 2020
 
Forward premium (%) as on 28th August, 2014 **
Periods
1 Mth
3 Mth
6 Mth
12 Mth
Premiums
8.33/8.59
8.39/8.52
8.44/8.50
8.22/8.25
 
 
USD/INR Cash/Tom/Spot Levels: (in Paisa)                                       
 (Updated as on 01st  SEPTEMBER 2014 @ 10.00 AM)
 
Cash/Spot:               ----                 Cash/Tom:             ----
Tom/Spot:                ----                 Spot/Next:       1.20/1.60
 
Cash Date                                                  ------
Tom Date
Spot Date
         02nd September.
         03rd September.
 
 
 
** as on 28th August 2014, since 29th August 2014 was a Mumbai Holiday on account of Ganesh Chaturthi.
For USD/INR there is no cash date, since 01st September 2014 is a New York Holiday on account of Labour Day.
 
MAJOR WORLD CURRENCIES: as on  29th August, 2014, 2014
 
USD:  The dollar traded largely higher against most major currencies on Friday after data revealed consumers in the U.S. are growing more confident, though fears the Ukraine crisis could escalate dampened the greenback's advance at times. Separately, data revealed that the Chicago-area purchasing managers' index rose to 64.3 in August from 52.6 in July, beating expectations for an increase to 56.0. Geopolitical issues softened the dollar albeit slightly. The US Dollar Index which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.26% at 82.74.
 
EUR:  In Europe, preliminary data showed that euro zone consumer price index ticked down to an annualized rate of 0.3% this month from 0.4% in July, in line with expectations. Data also showed that the euro zone's unemployment rate remained unchanged at 11.5% last month. Earlier Friday, official data showed that German retail sales declined 1.4% in July, disappointing expectations for a 0.1% rise, after a revised 1.0% gain in June. In U.S. trading, was down 0.29% at 1.3132, up from a session low of 1.3130 and off a high of 1.3196.
 
GBP:  The pound held gains against the U.S. dollar on Friday, but sterling's upside was limited as strong U.S. consumer sentiment data added further support for the greenback. Cable hit 1.6613 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6597, up 0.11%. In the U.K., the Nationwide Building Society said that house price inflation climbed 0.8% this month, exceeding expectations for a 0.1% gain. For July, the change in house price inflation was revised to a 0.2% increase from a previously estimated 0.1% rise.
 
 
GOLD: Gold prices ended the U.S. day session moderately lower on Friday. Spot gold was last quoted down $3.20 at $1,287.07.
 
Outlook For The Day (01st September, 2014)
USD/INR is expected to trade in a range between 60.30 to 60.60 with lower bias. In Overseas markets US Dollar may strengthen against the majors.   
 
 
MAJOR WORLD CURRENCIES:
as on  29th August, 2014
 
CURRENCY
OPEN
HIGH
LOW
CLOSE
EUR/USD
1.3178
1.3196
1.3130
1.3132
GBP/USD
1.6585
1.6613
1.6561
1.6597
JPY/USD
103.71
104.11
103.62
104.05
 
 
Foreign Currencies  
(Updated: 17:30 hrs on 28th August ,  2014) ** 
 
 
USD/INR 60.50
Against
        USD
           INR
1 EUR    =
1.3183
79.75
1 GBP    =
1.6581
100.31
100 JPY  =
103.67
58.36
1 AUD    =
0.9353
56.58
1 CHF    =
0.9145
66.15
 
 
Precious Metals 
(Updated: 17:30hrs on 28th August , 2014)
 
 
Gold ($/oz)
1286.65
Silver ($/oz)
19.61
 
 
Stock Indices
(As on 28th August , 2014)
 
 
Index Close
28th August
29th August
BSE Sensex
26638.11
26638.11
NSE Nifty
7954.35
7954.35
Dow Jones
17079.57
17098.45
NASDAQ
4557.69
4580.27
 
 
    Major Economic Data Releases for the Day
 
Date
Region
Time(IST)
Description
 
01.09.2014
EUR
13.30
German IFo Business Climate.
01.09.2014
USD
19.30
Home Sales
 
 
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