Get to see the latest forex market movement trends updated many times a day during forex trading hours. International Forex Market Trends and Market Analysis Report provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.
International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Nov 22 ~ 09:30 - Indian Standard Time.
Trend Indicators against INR
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Today range ------65.00 to 65.30-----------------------------------------
& current month--64.40 to 66.20-----------------------------------------
The Indian rupee ended slightly higher at 65.14/15 against dollar from its previous close of 65.2750/2850, as foreign banks sold dollars and as the greenback weakened after US President Donald Trump’s twitter clash with a fellow Republican senator over the government’s tax overhaul plans.
SPOT/INR: Spot/Rupee: The Indian Rupee opened flat at 65.13/14 against the US Dollar, as the Federal Reserve’s September meeting minutes reveled policy makers believed rate hikes before the year end were warranted even with concerns over weak inflation.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian stocks were near a decade high on Thursday, riding the Bull Run in global equity markets, while the dollar sagged after the Federal Reserve showed a guarded view towards inflation. The dollar index against a basket of six major currencies slipped to a two-week low of 92.839 following the release of the minutes from the Fed's last policy meeting on Sept. 19-20. Fed policymakers had a prolonged debate about the prospects of a pickup in inflation and the path of future interest rate rises if it did not, the minutes showed. While this did little to cool expectations for the Fed to raise interest rates in December, it did make the central bank appear slightly less hawkish than it appeared right after the September policy meeting when it signalled the year-end monetary tightening. The dollar was particularly weak against the euro as relief over Catalonia stopping short of a formal declaration of independence supported the common currency. The Mexican peso stood firm at 18.686 pesos per dollar. It had gained 0.7 percent overnight to pull away from a five-month low of 18.852, although the currency was seen coming under renewed pressure if the ongoing North American Free Trade Agreement (NAFTA) talks run aground. The United States, Mexico and Canada have negotiated this week to reform NAFTA. There are concerns that U.S. President Donald Trump could opt to withdraw from the pact if his demands for more favourable treatment are not met. In the mean time the Canadian dollar gained against the broadly weaker dollar. In commodities, oil prices eased as U.S. fuel inventories rose despite efforts by OPEC to cut production and tighten the market. Brent crude futures were down 0.6 percent at $56.59 per barrel. The contracts had risen for the third day on Wednesday as OPEC's forecast for higher demand in 2018 and heightened tensions in Kurdistan supported prices.
France CPI @ 12.15, Europe Industrial Production @ 15.30, India CPI data @ 17.30, US Jobless data @ 18.00.
POSITIVE FACTORS FOR RUPEE:
1. Continuous foreign fund flows, Domestic Political Stability and USD weakness.
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence), Continuous geopolitical tensions & expected USFED monetary tightening
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||NOV 2017||65.25||65.57|
Note: This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his own risks and no objection arises to TMB or any of its officials. All such trading involves risks.
Exchange Rates Information last updated in part or full on Friday, November 10, 2017 - 11:02 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
|Currency||CCY Buying||CCY Selling||TC Buying||TC Selling|
Prime Rates for US Dollar w.e.f. December 18, 2008 is 3.25%
|Currency||1y - <2y||2y - <3y||3y - <4y||4y - <5y||5y|
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