DATE: Friday, 30th January 2015
USD/INR: as on 29th January, 2015
USD/INR as on 29th January, 2015
Highest till date: 68.85 on 28th August, 2013
Forward premium (%) as on 29th January, 2015
The Indian rupee on Thursday slid by 45 paise, its worst singe-session drop in nearly seven weeks, to end at 61.86 against the greenback on month-end dollar demand from importers and banks amid speculation that US Fed is considering raising interest rates later this year. Dollar demand from importers, mainly oil refiners, affected the rupee value against the dollar. However, persistent foreign capital inflows into equity market restricted the rupee's fall. The rupee resumed lower at 61.43 as against Wednesday's closing level of 61.41 at the Interbank Foreign Exchange (Forex). It moved down further to 61.87 before concluding at 61.86, showing a loss of 45 paise or 0.73 per cent. This is its worst daily show since 59-paise drop on December 16, 2014.
USD/INR Cash/Tom/Spot Levels: (in Paisa)
(Updated as on 30th January 2015, @ 10.00 am )
Cash/Spot: 4.00/6.00 Cash/Tom: 3.00/4.50
Tom/Spot: 1.00/1.50 Spot/Next: 1.00/1.50
Cash Date: 30th January 2015
Tom Date: 2nd February 2015.
Spot Date: 3rd February 2015.
MAJOR WORLD CURRENCIES: as on 29th January, 2015
USD: The dollar remained broadly supported near more than 11-year highs against the other major currencies on Thursday, after data showed that U.S. jobless claims fell to the lowest level since the year 2000. The dollar also remained supported after the Federal Reserve signaled that interest rates could start to rise around mid-year. The Dollar Index which measures the greenback’s strength against a trade-weighted basket of six major currencies, held steady at 94.85, not far from Friday’s more than 11-year highs of 95.77.
EUR: The euro held steady against the dollar on Thursday despite preliminary data showing that Germany fell into deflation for the first time since July 2009 this month.EUR/USD was last at 1.1319, up slightly from around 1.1296 ahead of the data. Consumer prices in the euro area’s largest economy were down 1% from a month earlier, compared to expectations for a 0.8% drop after a flat reading last month. Demand for the dollar continued to be underpinned after the Federal Reserve indicated that interest rates could start to rise around mid-year.
GBP: The pound held steady against the U.S. dollar on Thursday, trading close to recent multi-month lows after data showed that U.K. house prices rose as expected this month and after the Federal Reserve indicated that interest rates could start to rise around mid-year.GBP/USD hit 1.5015 during European morning trade, the pair's lowest since Tuesday; the pair subsequently consolidated at 1.5065.
GOLD: Gold prices closed sharply lower and hit a two-week low on Thursday, in the aftermath of an FOMC statement that is being read as more hawkish than dovish. A higher U.S. dollar index on this day also helped to pressure the precious metals. Thursday saw the biggest one-day drop in gold and silver prices in months. Spot gold was last down $27.20 at $1,268.75.
Outlook For The Day (30th January 2015)
Expect USD/INR is expected to trade in a range between 61.65 to 61.90 with higher bias. US dollar is expected to weaken against the Majors.
MAJOR WORLD CURRENCIES:
as on 29th January, 2015
(Updated: 17:30 hrs on 29th January, 2015)
1 EUR =
1 GBP =
100 JPY =
1 AUD =
1 CHF =
(As on 29th January, 2015)
Major Economic Data Releases for the Day
German Retail sales
CPI Flash estimate
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