NRI Newsletter - Market News

NRI Newsletter - Market News

 

DATE: Friday, 31st October 2014

USD/INR: as on 30th October, 2014
 
 
The Indian rupee hit a two-week low on Thursday, falling for a third consecutive session as the dollar got a boost after the US Federal Reserve struck a more hawkish tone than expected at its policy meeting. However, broader losses in the rupee were capped as domestic shares rose to record highs, raising hopes of continued foreign inflows. Analysts also cited government measures on Wednesday relaxing rules for foreign investment in the construction sector as another positive for the rupee. Rupee closed at 61.4550 per dollar, weaker from Wednesday's 61.3550. Intraday, it fell to as low as 61.54 per dollar, a level last seen on October 17.


 




** Note: On 04th and 06th November 2014, Mumbai Forex markets will remain closed on account of local holidays there.
 
USD/INR as on 30th October, 2014
Currency
OPEN
HIGH
LOW
CLOSE
USD/INR
61.51
61.54
61.3850
61.4550
Highest till date: 68.85 on 28th August, 2013
 
Forward premium (%) as on 30th  October, 2014
Periods
1 Mth
3 Mth
6 Mth
12 Mth
Premiums
7.63/7.94
7.74/7.87
7.79/7.86
7.42/7.46
 
 
 USD/INR Cash/Tom/Spot Levels: (in Paisa)                                       
 (Updated as on 31st  October 2014 @ 10.00 am )
 
Cash/Spot:               5.50/7.25       Cash/Tom:  3.50/4.25
Tom/Spot:               2.00/3.00        Spot/Next:  2.00/3.00
 
Cash Date                                           31st October’14
Tom Date
Spot Date
         03rd November’14
         05th  November’14
 
 
 
 
MAJOR WORLD CURRENCIES: as on 30th October, 2014
 
USD:  The dollar firmed against most major currencies on Thursday after a better-than-expected U.S. growth report and a Federal Reserve decision to close its bond-buying program fueled expectations for rate hikes some time in 2015. The Commerce Department reported earlier that the U.S. gross domestic product grew at an annual rate of 3.5% in the three months to September, beating forecast for 3% growth, which fueled demand for the greenback. The US Dollar Index which tracks the performance of the greenback versus a basket of six other major currencies was up 0.16% at 86.22.
 
 
EUR:  In the euro zone, preliminary data on Thursday revealed that German inflation was unchanged at 0.7% in October from a month earlier, the lowest level since May. Separately, the number of people unemployed in Germany fell by 22,000 this month, compared to expectations for a gain of 5,000. The country’s unemployment rate was unchanged at 6.7%. In U.S. trading on Thursday, EUR/USD was down 0.15% at 1.2612.
 
 
GBP:   The greenback was up against the pound on Thursday, with GBP/USD down 0.02% at 1.6006.
 
 
    Major Economic Data Releases for the Day
 
Date
Region
Time(IST)
Description
 
31.10.2014
EUR
12.30
German Retail Sales.
31.10.2014
EUR
15.30
Zone Unemployment Rate.
 
 
 
 
 
 
 
GOLD: Gold prices ended the U.S. day session sharply lower and hit a three-week low on Thursday. Gold has been hit hard by a stronger U.S. dollar and a surprisingly hawkish Federal Reserve. Spot gold was last quoted down $12.40 at $1,199.40.
 
MAJOR WORLD CURRENCIES:
as on  30th  October, 2014
 
CURRENCY
OPEN
HIGH
LOW
CLOSE
EUR/USD
1.2630
1.2639
1.2546
1.2612
GBP/USD
1.6012
1.6038
1.5949
1.6006
JPY/USD
108.87
109.46
108.73
109.20
 
 
Foreign Currencies  
(Updated: 17:30 hrs on 30th October, 2014)
 
 
USD/INR 61.4550
Against
        USD
           INR
1 EUR    =
1.2586
77.35
1 GBP    =
1.5986
98.24
100 JPY  =
109.02
56.37
1 AUD    =
0.8787
54.00
1 CHF    =
0.9584
64.12
 
 
Precious Metals 
(Updated: 17:30hrs on 30th October, 2014)
 
 
Gold ($/oz)
1205.00
Silver ($/oz)
    16.75
 
 
Stock Indices
(As on 30th October, 2014)
 
 
Index Close
29th October
 30th   October
BSE Sensex
27098.17
27346.33
NSE Nifty
  8090.45
  8169.20
Dow Jones
  4549.23
  4566.14
NASDAQ
16974.31
17195.42
 
 
 
 
Outlook For The Day (31st  October, 2014)
USD/INR is expected to trade in a range of 61.30 to 61.50    with lower bias. In Overseas markets US Dollar may strengthen against the majors.   
 
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