NRI Newsletter - Market News

NRI Newsletter - Market News
 
DATE: Friday, 24th February, 2017
 
USD/INR: as on 23rd February, 2017
The rupee on Thursday staged a smart recovery by gaining 14 paise to close at 66.83 a dollar on fresh selling of the American currency by banks and exporters on the back of weakness of greenback in the overseas market. The rupee resumed stable at its overnight level of 66.96 and hovered in a range of 66.78-66.97 before ending at 66.83 per dollar, showing a gain of 14 paise or 0.21 per cent.
USD/INR as on 23rd February, 2017
Currency
OPEN
HIGH
LOW
CLOSE
USDINR
66.9600
66.9600
66.7825
66.8300
Highest till date: 68.8650 on 24th November, 2016
 
Forward premium(%) as on 23rd February, 2017
Periods
1 Mth
3 Mth
6 Mth
12 Mth
Premiums
4.67/4.93
5.10/5.22
4.95/5.01
4.76/4.79









 
 
*USD/INR Cash/Tom/Spot Levels: (in Paisa)                                      
(Updated as on 24th February, 2017 @10.00am) 
 
 
*Mumbai market will remain closed today on account of Maha Shivratri.
 
 
 
MAJOR WORLD CURRENCIES: as on 23rd February, 2017
USD: The U.S. dollar fell against a basket of major currencies on Thursday on a perceived lack of progress on U.S. tax reform and public spending, while Wednesday's more dovish-than-expected Federal Reserve meeting minutes continued to weigh on the greenback. The dollar index (DXY), which measures the greenback against a basket of six major currencies, was last down 0.2 percent at 101.020.
EUR: The euro was higher against the dollar, despite a poll showing Le Pen was only 10 points behind conservative Francois Fillon but 22 points behind centrist Emmanuel Macron in the potential second-round run-offs. EUR/USD traded in a range between 1.0536 and 1.0595 before consolidating at 1.0579, up 0.23 percent.
GBP: Sterling hit a 1 week-high against the dollar on Thursday, buoyed by a modest recovery in UK retail sales in February relative to a steeper fall in retail sales in January, according to the latest Confederation of British Industry’s quarterly Distributive Trades Survey. GBP/USD climbed more than 0.8% to $1.2559, before settling at 1.2552 for the session.
GOLD: Gold prices rose 1 percent to a 3-1/2-month high on Thursday after minutes from the latest Federal Reserve policy meeting further dampened expectations for an interest rate hike in March, lowering U.S. bond yields and pressuring the dollar.
Outlook for the day (24th February, 2017)
Major currencies are expected to be lower against the Greenback.
 
 
 
MAJOR WORLD CURRENCIES:
as on 23rd February, 2017
 
CURRENCY
OPEN
HIGH
LOW
CLOSE
EUR/USD
1.0555
1.0595
1.0536
1.0579
GBP/USD
1.2440
1.2559
1.2425
1.2552
AUD/USD
0.7700
0.7741
0.7662
0.7713
USD/JPY
113.28
113.45
112.53
112.57
 
Foreign Currencies
(Updated: 17:30 hrs. on 23rd February, 2017)
 
USD/INR: 66.8300
Against
USD
INR
1 EUR    =
1.0566
70.61
1 GBP    =
1.2494
83.50
100 JPY  =
0.8864
59.24
1 AUD    =
0.7722
51.61
1 CHF    =
0.9911
66.24
 
Precious Metals
(Updated: 17:30 hrs on 23rd February, 2017)
 
Gold ($/oz)
1238.74
Silver ($/oz)
17.98
 
Stock Indices
(As on  23rd February, 2017)
 
Index Close
22nd February
23rd February
BSE Sensex
28864.710
28892.97
 NSE Nifty
8926.90
8939.50
Dow Jones
20775.60
20810.32
NASDAQ
5860.63
5835.51
 
Major Economic Data Releases for the Day
Date
Region
Time(IST)
Description
24.02.17
USD
05:30 PM
New Home Sales
24.02.17
USD
07:00 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