NRI Newsletter - Market News

NRI Newsletter - Market News

 

    

 

DATE: Friday, 24th   October 2014

USD/INR: as on 23rd    October, 2014

 

 

The Indian rupee traded in a tight range 61.18 and 61.25 as Mumbai remained closed due to Diwali. It will remain closed tomorrow due to Balipratipada.  

 

 

Rupee Forward premiums (as on 23rd   October, 2014)

Mumbai markets remained closed due to Diwali for Thursday and will be closed on Friday.  

 

 

USD/INR as on 22nd   October, 2014 **

Currency

OPEN

HIGH

LOW

CLOSE

USD/INR

61.15

61.30

61.15

61.2850

Highest till date: 68.85 on 28th August, 2013

 

Forward premium (%) as on 22nd   October, 2014**

Periods

1 Mth

3 Mth

6 Mth

12 Mth

Premiums

7.69/8.07

7.85/7.98

7.84/7.91

7.40/7.43

 

 

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

 (Updated as on 24th   October 2014 @ 9.00 )**

**(Mumbai holiday on 23rd and 24th Oct.2014)

Cash/Spot:             7.75/9.00        Cash/Tom: 6.50/7.50

Tom/Spot:              1.25/1.50        Spot/Next: 1.00/2.00

 

Cash Date                                           24th  October’14

Tom Date

Spot Date

         27th   October’14

         28th  October’14

 

 

 

MAJOR WORLD CURRENCIES: as on 23rd    October, 2014

 

USD:  The Dollar went up against majors on Thursday on good jobless data. The US Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Oct. 18 increased by 17,000 to 283,000, broadly in line with forecasts. The four-week average fell to 281,000, the lowest since May 2000, while continuing claims, which includes those receiving benefits for at least a second month in a row, also hit a 14-year low pushing USD up against majors.

 

EUR:    The Euro was down against dollar on good jobless claims from US on Thursday. It opened at 1.2648 and touched high of 1.2676 and intraday low of 1.2612. It closed at 1.2644 on Thursday.

 

GBP:   The pound opened at 1.6049 and touched high of 1.6059. Intraday it touched low of 1.5993 on good US Jobless claim data. It closed at 1.6028 on Thursday.

 

    Major Economic Data Releases for the Day

 

Date

Region

Time(IST)

Description

 

24.10.2014

EUR

11.30

Consumer confidence

24.10.2014

GBP

14.00

GDP

 

 

 

 

 

 

GOLD: Gold opened at 1240.59 and touched high of 1244.70 and touched low of 1226.17 on good US jobless data, before closing at 1231.89 on Thursday.

 

MAJOR WORLD CURRENCIES:

as on 23rd   October, 2014

 

CURRENCY

OPEN

HIGH

LOW

CLOSE

EUR/USD

1.2648

1.2676

1.2612

1.2644

GBP/USD

1.6049

1.6059

1.5993

1.6028

JPY/USD

107.13

108.35

107.08

108.25

 

Foreign Currencies  

(Updated: 17:30 hrs on 23rd    October, 2014)

 

 

USD/INR 61.22

Against

        USD

           INR

1 EUR    =

1.2670

77.56

1 GBP    =

1.6026

98.11

100 JPY =

107.60

56.89

1 AUD    =

0.8801

53.88

1 CHF    =

0.9521

64.29

 

 

Precious Metals 

(Updated: 17:30hrs on 23rd  October, 2014)

 

 

Gold ($/oz)

1235.70

Silver ($/oz)

17.10

 

 

Stock Indices

(As on 23rd    October, 2014)

 

 

Index Close

22nd   October

 23rd  October

BSE Sensex

26787.23

26851.00

NSE Nifty

7995.90

8014.55

Dow Jones

4382.85

4452.79

NASDAQ

16461.32

16677.90

 

 

 

 

Outlook For The Day (24th    October, 2014)

USD/INR is expected to trade in a narrow range as Markets will remain closed due to “Diwali”. In Overseas markets US Dollar may weaken against the majors.   

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