NRI Newsletter - Market News

NRI Newsletter - Market News

 

DATE: Friday, 26th August, 2016

 


USD/INR: as on 25th  August, 2016

The rupee on Thursday regained its strength after a brief dip and ended higher by 6 paise at 67.05 against the greenback on bouts of dollar selling by banks and exporters. The domestic currency opened a tad higher at 67.09 from yesterday's closing value of 67.11 at the Interbank Foreign Exchange (Forex) market. It moved erratically in a range of 67.01 to 67.11 before settling at 67.05, revealing a gain of 6 paise or 0.09 per cent.

USD/INR as on 25th  August, 2016

Currency

OPEN

HIGH

LOW

CLOSE

USD/INR

67.0900

67.1100

67.0100

67.0500

Highest till date: 68.85 on 31st August, 2013

 

Forward premium (%) as on 25th  August, 2016

Periods

1 Mth

3 Mth

6 Mth

12 Mth

Premiums

6.08/6.42

6.15/6.26

5.89/5.95

5.93/5.96










 

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

(Updated as on , 26th August, 2016 @ 10.00 am )  

 

  Cash/Spot: 4.00/6.00       Cash/Tom:  3.00/4.50

  Tom/Spot:   1.00/1.50       Spot/Next:  1.00/1.50

 

   Cash Date:  26th August, 2016

  Tom Date:    29th August, 2016

  Spot Date:   30th August, 2016

 

 

 

MAJOR WORLD CURRENCIES: as on 25th August, 2016

USD: The dollar was little changed against the other major currencies on Thursday, after the release of upbeat U.S. data, as investors were still cautious ahead of Federal Reserve Chair Janet Yellen’s highly-awaited speech on Friday. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.69.

 

EUR: The euro was moderately higher against the U.S. dollar on Thursday, despite the release of downbeat data from Germany, as sentiment on the greenback remained fragile ahead of a speech by Federal Reserve Chair Janet Yellen due on Friday. EUR/USD hit 1.1297 during European morning trade, the session high; the pair subsequently consolidated at 1.1279, up 0.08%.

 

GBP: The pound was lower against the U.S. dollar on Thursday. GBP/USD traded in a wide range between 1.3164 and 1.3262 during the session. The pair subsequently consolidated at 1.3189, down 0.32 percent on the session.

 

GOLD: Gold on Thursday held slightly above a four-week low touched in the previous session as the dollar lost some strength ahead of a speech by Federal Reserve Chair Janet Yellen that may yield clues on U.S. interest rate policy.

 

Outlook for the day (26th August, 2016)

USDINR is expected to trade in a range between 66.90 and 67.10 with lower bias. Major currencies are expected to be higher against the Greenback.

 

MAJOR WORLD CURRENCIES:

as on 25th August, 2016

 

CURRENCY

OPEN

HIGH

LOW

CLOSE

EUR/USD

1.1262

1.1297

1.1254

1.1279

GBP/USD

1.3231

1.3262

1.3164

1.3189

AUD/USD

0.7620

0.7655

0.7609

0.7615

USD/JPY

100.42

100.61

100.27

100.51

 

Foreign Currencies

(Updated: 18:30 hrs. on 25th August, 2016)

 

USD/INR: 67.0500

Against

USD

INR

1 EUR    =

1.1291

75.71

1 GBP    =

1.3194

88.47

100 JPY  =

0.9953

66.73

1 AUD    =

0.7609

51.02

1 CHF    =

1.0355

69.43


Precious Metals

(Updated: 17:30 hrs on 25th August, 2016)

 

Gold ($/oz)

1323.12

Silver ($/oz)

18.5550

 

Stock Indices

(As on  25th August, 2016)

 

Index Close

24th August

25th  August

BSE Sensex

28059.94

27835.91

NSE Nifty

8650.30

8592.20

Dow Jones

18481.48

18448.41

NASDAQ

5217.69

5212.20

 

Major Economic Data Releases for the Day

Date

Region

Time(IST)

Description

26.08.16

GBP

02:00 pm

Second Estimate GDP q/q

26.08.16

GBP

02:00 pm

Prelim Business Investment q/q

26.08.16

USD

06:00 pm

Prelim GDP q/q

26.08.16

USD

07:30 pm

Fed Chair Yellen Speaks

26.08.16

USD

07:30 pm

Revised UoM Consumer Sentiment

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