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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 Thursday, March 11, 2010 - 4:30 pm (GMT +05:30:00) - Indian Standard Time.

Live Market Rates (Updated Frequently):

Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Previous day-----45.3400/45.5200---61.60/62.03 67.52/68.41
Today's opening-45.43/45.44---61.89/61.99 67.89/67.99
Expected range for today
---------------------45.4000/45.6500-------------------------------
& current month-45.0000-46.2500----------------------------------

On Wednesday, Rupee opened the trade at 45.52/53 without gap. Rupee traded positively against the greenback . There were FII inflows into NMDC and substantial dollar selling during early trade. Rupee also gained in line with other Asian currencies . Exporters dollar sales also supported the Rupee which helped the Rupee to appreciate upto the level of 45.34 during intraday. However dollar demand from importers and weakening Euro and cable exerted pressure on Rupee and finally Rupee closed the trade at 45.38/39.

SPOT/INR :
Today Rupee opened the trade at 45.43/44 on a negative note. Rupee is likely to trade in a marginally weak bias on account of flat Asian equity market . Stock market trend and overseas dollar movement could provide intraday direction for Rupee’s trade.

Forward Premium :
On Wednesday, forward premiums ended up because bought forward dollars for importers noting the rise in the spot rupee. Today forward premiums are likely to trade tracking domestic treasury yields.

Global Developments :
Dollar recouped some of its losses against a basket of currencies. Key Asian Stock indices are seen in the range of flat to marginally negative. Oil and gold prices eased on dollar’s recovery.

Near Term Outlook for Rupee:
Given the present outlook, Rupee is expected to range bound against the dollar in the coming days.

POSITIVE FACTORS FOR RUPEE:
1. Huge Forex Reserve
2. Positive stock indices


FACTORS AGAINST RUPEE:
1. Dollar demand from Import corporates
2. Stronger dollar overseas

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 Thursday, March 11, 2010 - 4:30 pm (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. December 18, 2008 is 3.25%

Interest Rates on FCNR-B Deposits:

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