Thursday, 11 March 2010
INR falls on offshore cue
USD/INR lower on offshore lead, while Thursday's large outflows aren't expected to repeat; watch is on industrial output data later, says trader with private bank. Pair at 45.47 vs 45.62 late Thursday; "expect a range-bound session." Adds heavy USD buying spotted yesterday from large UK bank, large German bank could have been related to M&A-related activity, but these flows set to fade. Tips 45.35-45.65 band.
Wednesday, 24 February 2010
Today's INR Rupee news
Close-
USD/INR off highs as traders avoid positions ahead of federal budget due Friday, however, uncertainty over euro zone crisis may drive investors to safer greenback; pair last at 46.35, after rising to 46.43 earlier in day, 46.33 late Wednesday. "The euro crisis, flat local stocks plus month-end dollar demand from oil companies could keep the pair up in session," says dealer. Tips pair in 46.33-46.40 band in session.
Open-
USD/INR likely to open higher, tracking dollar gains against Asian currencies, says dealer with foreign bank; pair likely to trade in 46.30-46.50 band today vs 46.33 at late Wednesday close. "The rupee should take a cue from its Asian peers, which are weaker against the dollar; also the local equity markets are likely to open negative ahead of the federal budget, which is due Friday," says dealer. Foreign funds were net buyers of provisional INR4.85 billion worth of Indian stocks Wednesday. 1-month NDF quoting at 46.28/46.31.
USD/INR off highs as traders avoid positions ahead of federal budget due Friday, however, uncertainty over euro zone crisis may drive investors to safer greenback; pair last at 46.35, after rising to 46.43 earlier in day, 46.33 late Wednesday. "The euro crisis, flat local stocks plus month-end dollar demand from oil companies could keep the pair up in session," says dealer. Tips pair in 46.33-46.40 band in session.
Open-
USD/INR likely to open higher, tracking dollar gains against Asian currencies, says dealer with foreign bank; pair likely to trade in 46.30-46.50 band today vs 46.33 at late Wednesday close. "The rupee should take a cue from its Asian peers, which are weaker against the dollar; also the local equity markets are likely to open negative ahead of the federal budget, which is due Friday," says dealer. Foreign funds were net buyers of provisional INR4.85 billion worth of Indian stocks Wednesday. 1-month NDF quoting at 46.28/46.31.
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