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Foreign Exchange Market Analysis Report:

International Forex Market Trend / Comments / Information / Report and Rates provided below was last updated in part or full on Monday, May 12, 2008 - 9:53 am (GMT +05:30:00) - Indian Standard Time.

Live Market Rates (Updated Frequently):

Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Previous day-----41.3400/41.7400---63.70/64.50 80.70/81.65
Today's opening-41.6200/41.6500---63.60/64.60 80.60/81.60
Expected range for today
---------------------41.5500/41.8000-------------------------------
& current month-40.2500-42.0000----------------------------------

On Friday, Rupee opened the trade positively at 41.68/41.70. Dollar bids from banks weakened the Rupee upto 41.74 during the initial trades. Exporter dollar sales thereafter made the Rupee to gain upto 41.34. In the noon session there was some demand and dollar hovered above 41.50. Rupee closed the week at 41.59/41.60.

SPOT/INR :
Today, Rupee opened the trade at 41.62/41.65. Concerns over higher oil prices and negative stock indices could exert downward pressure on Rupee today. Exporters may sell dollars at around 41.75 levels. Rupee may hover within the 41.55-41.80 bands today.

Forward Premium :
On Friday, forward premiums were further down on exporters’ coverings. Today premiums are expected to ease further taking stock of spot rupee weakness.

Global Developments :
Dollar has gained a little bit against other currencies. Concerns over higher crude oil prices made the global stock indices bearish. Oil prices are at the record high level and gold prices also inched up.

Near Term Outlook for Rupee:
Higher crude oil prices and slowdown in FII inflows could keep the Rupee in a weaker tone. Rupee is expected to trade within the wider band of 40.75-42.00 during this month.

FACTORS FOR AND AGAINST RUPEE ARE:
FOR:
1. Indian economy showing good prospects.
2. Huge Capital inflows
3. High forex reserves
4. Weaker dollar overseas.


Against:
1. Widening of trade deficit.
2. Higher Crude oil price.
3. Global concerns over financial markets.

Indicative / Forward / Cross Rates:

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.

Card Rates:

Exchange Rates Information last updated in part or full on Monday, May 12, 2008 - 9:53 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).

Prime Rates:

Prime Rates for US Dollar w.e.f. June 30, 2006 is 8.25%

Interest Rates on FCNR-B Deposits:

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