Indian Rupee and it's Analysis


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Rupee opens at record high. Currently trades at 59.80 | Emerging European currencies slumped across the board as well against both the Dollar and the Euro. | Japan FM backs BOJ's decision not to tinker with its aggressive monetary policy. | Kuroda: BOJ will shift monetary policy if economic conditions change sharply in the future. | Japan April IIP output rose by 0.9%(MoM). | PM Eco Advisor: External situations will affect RBI July policy | RBI: Only durable receding of inflation will open up space for easing. | Growth, Inflation and BOP to determine policy stance going forward. | India to sell $7.15 billion in debt quotas to foreign investors tomorrow. | Weak Rupee to have some impact on Inflation. | Continued fiscal consumption may help narrow down twin deficits. | May trade deficit widens on high gold imports. | Draghi: ECB measures may have unintended consequences. | RBI leaves CRR, Repo rate unchanged at 4% and 7.25% respectively | Fed chariman Bernanke hints about the withdrawal of quantitative easing | Gold prices fell to a four-week low Wednesday in after-market trade after Federal Reserve Chairman Ben Bernanke sketched a possible time line for ending the central bank's bond-buying program. | Rupee opens at record high at 59.62 | Fed made clear that the US economy is on better front. | Fed hinted that its bond buying program could end in 2014 if the economic recovery sustains. Consequently, the dollar strengthened and the US 10-year yield spiked to 2.37 percent. | Rupee is likely to remain weak in the session today as the Fed's tapering its bond purchases could trigger an outflow. | Economy under pressure as Inflows are very crucial to bridge India's current account gap.

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18869.71

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1346.8

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0.27225

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Live Inside

Currency	USD Buy	INR Buy	USD Sell	INR Sell
USD		59.7000		59.7100
EUR	1.3255	79.1325	1.3257	79.1600
GBP	1.5443	92.1950	1.5447	92.2375
JPY	96.9760	61.5500	96.9960	61.5725
CHF	0.9299	64.1750	0.9303	64.2125

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U.S. DOLLAR VS. INDIAN RUPEES

Market Wrap

USD/INR closed at 58.71/72 versus its open at 58.80/81. USD/INR closed down on talks of intervention by RBIand selling by custodian banks but investors remained cautious ahead of the outcome of FOMC meeting. Rupee appreciated on higher inflows related to Hindustan Unilever limited.......

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