NRI Newsletter - Market News

NRI Newsletter - Market News

 

DATE: Thursday, 26th  March 2015             

USD/INR: as on 25th  March , 2015

USD/INR as on 25th    March, 2015

Currency

OPEN

HIGH

LOW

CLOSE

USD/INR

62.32

62.34

62.26

62.33

Highest till date: 68.85 on 28th August, 2013

 

Forward premium (%) as on 25th   March, 2015

Periods

1 Mth

3 Mth

6 Mth

12 Mth

Premiums

9.11/9.46

8.45/8.57

8.22/8.29

7.73/7.76

The Indian rupee on Wednesday snapped its seven-day winning spree against the Greenback, declining 7 paise to end at 62.33 on month-end dollar demand from banks and importers. The rupee's longest run of gains since June 2011 ended amid renewed dollar demand in view of a higher dollar in the international market. The rupee resumed lower at 62.32 per dollar as against yesterday's closing level of 62.26 at the Interbank Foreign Exchange (Forex) Market.



 

 

 

 

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

 (Updated as on 26th  March  2015@ 10.00 am )

 

Cash/Spot:     4.40/6.40    Cash/Tom:     1.10/1.60

Tom/Spot:     3.30/4.80    Spot/Next:      1.00/1.60

 

 

Cash Date: 26th    March  2015.

         Tom Date: 27th     March  2015.

                  Spot Date: 30th    March  2015.

 

 

MAJOR WORLD CURRENCIES: as on 25th March, 2015

USD: The dollar remained broadly lower against a basket of other major currencies on Wednesday, after data showed that U.S. durable goods orders fell unexpectedly in February, fuelling fresh uncertainty over the strength of the economy. The U.S.Dollar Index which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.34% to 97.10.

 

EUR: The euro was trading close to session highs against the dollar on Wednesday after data showing an unexpected drop in U.S. durable goods orders raised concerns over the outlook for first quarter growth.EUR/USD was last at 1.0969, 0.49% higher for the day, not far from session highs of 1.1014.

 

GBP:  The pound rose against the U.S. dollar on Wednesday, after upbeat U.K. mortgage approvals data, although the greenback remained mildly supported by hopes for a near-term U.S. rate hike.GBP/USD hit 1.4953 during European morning trade, the session high; the pair subsequently consolidated at 1.4878, gaining 0.27%.

 

 GOLD: Gold prices ended the U.S. day session modestly higher and hit a three-week high on Wednesday. The yellow metal came within a whisker of pushing above the key $1,200.00 mark, basis April Comex futures. Several fundamental factors worked in favor of the precious metals Wednesday, including a slumping U.S. dollar index that continues to be a major bullish underlying theme for most raw commodity markets. April Comex gold was last up $5.70 at $1,197.00 an ounce. May Comex silver was last up $0.017 at $17.00 an ounce.

Outlook For The Day ( 26th  March  2015)

 USD/INR is expected to trade in the range between 62.55 to 62.85 with higher bias . US dollar is expected to strengthen against the Majors.

 

MAJOR WORLD CURRENCIES:

as on 25th   March, 2015

 

CURRENCY

OPEN

HIGH

LOW

CLOSE

EUR/USD

1.0923

1.1014

1.0899

1.0969

GBP/USD

1.4849

1.4953

1.4826

1.4878

AUD/USD

0.7874

0.7904

0.7825

0.7842

JPY/USD

119.75

119.83

119.22

119.48

CHF/USD

0.9579

0.9619

0.9549

0.9597

 

 

Foreign Currencies  

(Updated: 17:30 hrs on 25th   March, 2015 

USD/INR 62.33

Against

        USD

           INR

1 EUR    =

1.0987

68.48

1 GBP    =

1.4912

92.94

100 JPY =

119.48

52.16

1 AUD    =

0.7875

49.08

1 CHF    =

0.9562

65.18

 

 

Precious Metals 

(Updated: 17:30hrs on  25th   March, 2015)

Gold ($/oz)

1194.71

Silver ($/oz)

    16.94

 

Stock Indices

(As on  25th   March, 2015)

 

Index Close

24rd   March

25th    March

BSE Sensex

28161.72

27896.63

NSE Nifty

8542.95

8530.80

Dow Jones

18011.14

17718.54

NASDAQ

4994.73

4876.52

    Major Economic Data Releases for the Day

Date

Region

Time(IST)

Description

26.03.2015

GBP

 3.00PM

Retail sales

26.03.2015

USD

06.00PM

Unemployment Claims

 

 

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 preparationof 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