NRI Newsletter - Market News

NRI Newsletter - Market News

 

DATE: Friday, 29th May 2015

 

 

USD/INR: as on 28th  May, 2015

The Indian rupee on Thursday snapped its 3-day losing streak against the US dollar by ending 21 paise higher at 63.80 on fresh selling of the greenback by banks and exporters. However, month-end dollar demand from importers, mainly oil refiners, restricted the rupee's gains







 

USD/INR as on 28th May, 2015

Currency

OPEN

HIGH

LOW

CLOSE

USD/INR

63.98

64.00

63.74

63.80

Highest till date: 68.85 on 28th August, 2013

 

Forward premium (%) as on  28th May, 2015

Periods

1 Mth

3 Mth

6 Mth

12 Mth

Premiums

7.11/7.49

7.13/7.26

7.01/7.07

6.85/6.88

 

USD/INR Cash/Tom/Spot Levels: (in Paisa)                                      

 (Updated as on 29th May, 2015, @ 10.00 am )  

 

Cash/Spot:      4.50/6.25           Cash/Tom:      3.50/4.50

Tom/Spot:      1.00/1.75             Spot/Next:     1.00/1.60

 

Cash Date: 29th May, 2015.

Tom Date: 01st June, 2015.

Spot Date: 02nd  June, 2015.

 

 

 

 

 

MAJOR WORLD CURRENCIES: as on 28th May, 2015

USD: The dollar was little changed against a basket of other major currencies in quiet trade on Thursday, after the release of U.S. economic reports as expectations for a rate hike by the Federal Reserve in the coming months continued to support the greenback. The U.S.Dollar Index which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.22% at 97.55, close to Wednesday's five-week highs of 97.88.

 

 EUR: EUR/USD rose modestly on Thursday extending gains from one session earlier, as  high-level discussions in Brussels regarding the Greek debt crisis and mulled polarizing views from influential Federal Reserve officials on the timing of an interest rate hike. EUR/USD was traded between 1.0958 and 1.0867 before closing at 1.0946

GBP:  The pound edged lower against the dollar on Thursday after data showed that the rate of economic growth in the U.K. in the first three months of the year was unchanged from initial estimates. GBP/USD was traded between 1.5385 and 1.5259 before closing at 1.5314

 GOLD: Gold struggled to recover from

a two-week low on Thursday as a robust dollar and the prospectsof higher U.S. interest rates dented demand for the metal.

 

Outlook For The Day (29th May, 2015)

USD/INR is expected to trade in a range between 63.60 to 63.85 with lower bias. US dollar is expected to weaken against the Majors. 

MAJOR WORLD CURRENCIES:

as on 28th May, 2015

CURRENCY

OPEN

HIGH

LOW

CLOSE

EUR/USD

1.0903

1.0958

1.0867

1.0946

GBP/USD

1.5354

1.5385

1.0867

1.0946

AUD/USD

0.7726

0.7761

0.7615

0.7643

JPY/USD

123.61

124.46

123.47

123.94

 

Foreign Currencies

(Updated: 17:30 hrs. on 28th  May, 2015)

 

USD/INR 63.8050

Against

        USD

           INR

1 EUR    =

1.0886

69.45

1 GBP    =

1.5275

97.46

100 JPY  =

124.27

51.34

1 AUD    =

0.7643

48.76

1 CHF    =

0.9496

67.18

 

Precious Metals

(Updated: 17:30hrs on 28th  May, 2015)

 

Gold ($/oz)

1188.56

Silver ($/oz)

16.70

 

Stock Indices

(As on 28th May, 2015)

 

Index Close

27th May

28th May

BSE Sensex

27564.66

27506.71

NSE Nifty

8334.60

8319.00

Dow Jones

18162.99

18126.12

NASDAQ

5106.59

5097.98

 

    Major Economic Data Releases for the Day

Date

Region

Time(IST)

Description

29.05.15

EUR

11.30PM

German Retail Sales

29.05.15

USD

06:00 PM

Prelim GDP

The views contained herein are those of individuals and not necessarily those of the Bank.  This is for information purpose only and no recommendations are intended.  While due care has been taken in preparation of this communication, IOB cannot be held responsible for any consequences of any decisions based on this information. Comments/Suggestions may be freely emailed to feddeal@iobnet.co.in