NRI Newsletter - Market News

NRI Newsletter - Market News

  DATE: Friday, 19th September 2014

USD/INR: as on 18th September, 2014
 
The Indian Rupee rebounded from one-month lows, ending eight paise higher at 60.8350 against the greenback following late dollar selling by exporters and a strong rally in local shares. A fall in dollar value abroad against major rivals also helped rupee recover from early losses as US Federal Reserve pledged to maintain its easy monetary policy. Dollar index, a gauge of six major global units, was down 0.25 per cent. In previous two sessions, the rupee gained 21 paise. The rupee's rise against dollar came as capital outflow fears receded. The Fed's pledge to keep interest rates near zero for a considerable time, gives relief to emerging markets, including India.


Rupee Forward premiums (as on 18th September, 2014)
One year Bench Mark forward premiums closed lower for the day on Thursday. The bench mark one year premium closed at 8.28% on Thursday, against its previous close of 8.29% on Wednesday.  
USD/INR as on 18th September, 2014
Currency
OPEN
HIGH
LOW
CLOSE
USD/INR
61.11
61.2050
60.83
60.8350
Highest till date: 68.85 on 29th August, 2013
 
Forward premium (%) as on 18th September, 2014
Periods
1 Mth
3 Mth
6 Mth
12 Mth
Premiums
8.17/8.54
8.31/8.44
8.37/8.44
8.25/8.28
 
 
USD/INR Cash/Tom/Spot Levels: (in Paisa)                                       
 (Updated as on 19th  SEPTEMBER 2014 @ 10.30 AM)
 
Cash/Spot:              5.20/5.50         Cash/Tom:    3.50/4.50
Tom/Spot:              1.10/1.50         Spot/Next:    1.10/1.60
 
Cash Date                                           19th September.
Tom Date
Spot Date
         22nd  September.
         23rd  September.
 
 
 
 
MAJOR WORLD CURRENCIES: as on  18th September, 2014
USD:  The dollar traded mixed to lower against most major currencies on Thursday, buoyed by expectations for tighter monetary policy on the horizon and softened by a mixed bag of U.S. data. The Federal Reserve on Wednesday said that it will likely close its monthly bond-buying program in October and suggested it will raise interest rates in 2015. The Fed added interest rates will hover just above zero for a "considerable time" after it closes its easing program, but the U.S. central bank also suggested it could begin hiking benchmark borrowing costs faster than anticipated once it decides to start tightening policy. The Dollar Index which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.38% at 84.43.
 
 
EUR:  The euro rose against the dollar on Thursday after mixed U.S. data gave investors room to sell the greenback for profits and snap up nicely-priced positions in the single currency. In U.S. trading, EUR/USD was up 0.39% at 1.2922, up from a session low of 1.2833 and off a high of 1.2930.
 
GBP:  The pound rose against the dollar on Thursday on hopes Scots voting on their independence will opt to stick with the U.K. and forego secession. In U.S. trading on Thursday, GBP/USD was at 0.60%at 1.6400, up from a session low of 1.6244 and off a high of 1.6408. Sterling firmed earlier after the final Ipsos Mori opinion poll of the referendum campaign showed the no vote was slightly ahead at 53%, while support for the yes vote was at 47%.
 
 
GOLD: Gold prices stabilized as Thursday’s session wore on due to profit-taking and short covering, bouncing from the lowest level since early January after overnight selling in the wake of a U.S. Federal Open Market Committee meeting. Spot metal was up $3.05 to $1,226.15.
 
Outlook For The Day (18th September, 2014)
USD/INR is expected to trade in a range between 60.60 to 60.90 with lower bias. In Overseas markets US Dollar may strengthen against the majors.   
 
 
MAJOR WORLD CURRENCIES:
as on  18th September, 2014
 
CURRENCY
OPEN
HIGH
LOW
CLOSE
EUR/USD
1.2864
1.2930
1.2833
1.2922
GBP/USD
1.6275
1.6408
1.6244
1.6400
JPY/USD
108.37
108.96
108.29
108.69
 
 
Foreign Currencies  
(Updated: 18:30 hrs on 18th September,  2014)
 
 
USD/INR 60.8350
Against
        USD
           INR
1 EUR    =
1.2874
78.32
1 GBP    =
1.6337
99.39
180 JPY  =
108.76
55.93
1 AUD    =
0.8953
54.46
1 CHF    =
0.9387
64.81
 
 
Precious Metals 
(Updated: 18:30hrs on 18th September, 2014)
 
 
Gold ($/oz)
1220.01
Silver ($/oz)
18.37
 
 
Stock Indices
(As on 18th September, 2014)
 
 
Index Close
17th September
18th September
BSE Sensex
26631.29
27112.21
NSE Nifty
  7975.50
8114.75
Dow Jones
18156.85
17265.99
NASDAQ
  4562.19
4593.43
 
 
    Major Economic Data Releases for the Day
 
Date
Region
Time(IST)
Description
 
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 -
 
 
 
 
 
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