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International Forex Market Rates for USD, Euro and Pounds provided below was last updated on Dec 13 ~ 09:00 - Indian Standard Time.
Last Updated in part or full on Friday, December 13, 2019 - 11:39 am (GMT +05:30:00)
Trend Indicators against INR
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Today range --------70.40 to 70.80------------------------------------------------
& Current month----70.50 to 72.50-----------------------------------------------
The Indian rupee opened stronger against the dollar at 70.53/54 after US President Donald Trump reportedly signed off on a trade deal with China triggering the biggest advance on the Yuan in a year
SPOT/INR:The Indian rupee ended flat at 70.83/84 against dollar from its previous close of 70.84/85 as a likely intervention by the central bank offset corporate and equity inflows.
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
Asian shares scaled eight-month peaks on Friday as a last-gasp Sino-U.S. trade deal and a likely major election win by Britain's Conservative Party looked to have cleared a couple of dark clouds from the global horizon. The double dose of relief slugged safe-haven sovereign bonds and the Japanese yen, and led markets to scale back the chance of more interest rates cuts around the world. The pound hit its highest since mid-2018 as UK exit polls seemed to rule out a shock win by the left-wing Labour opposition, and could help clarify the outlook for Brexit. Polls suggested Prime Minster Boris Johnson could gain a commanding 368 seats in Britain's Parliament, settling another long-standing uncertainty. The pound was last up 2.4% at $1.3476 and reached levels on the euro not visited since mid-2016. A wave of trade euphoria had already lifted Wall Street to record highs. Reuters reported the United States has agreed to reduce some tariffs on Chinese goods and delay a tranche of tariffs as part of a phase one deal. China also has agreed to make $50 billion in agricultural purchases in 2020 as part of the deal, that person and another U.S. source familiar with the talks said. Wall Street had celebrated the trade news with record highs. The Dow ended Thursday up 0.79%, while the S&P 500 gained 0.86% and the Nasdaq 0.73%. That was bad news for bonds and yields on U.S. 10-year Treasuries shot up to 1.91%, a rise of 12 basis points in just two sessions. Interest rate futures slipped as investors priced in less chance of a rate cut from the Federal Reserve next year - a shift seen across a range of developed nations. Other safe harbours also took a beating, with the yen sliding across the board. The dollar firmed further to 109.52 yen having risen 0.7% overnight. The dollar fared less well elsewhere as the pound and the euro both benefited from the UK exit polls. The euro added 0.4% to $1.1176, while the dollar slipped to 96.742 on a basket of currencies. The dollar also lost out to the Chinese yuan to hit an 18-week low as any trade truce would be seen as a boon for the export-heavy economy. The dollar was last at 6.9715 yuan having shed a steep 1.2% overnight. The shift from safe havens left spot gold flat at $1,468.48 per ounce. Oil prices rallied on hopes a trade deal would support global growth and thus demand. U.S. crude added 35 cents to $59.53 a barrel, while Brent crude rose 47 cents to $64.67.
POSITIVE FACTORS FOR RUPEE:
1. Continuous foreign fund flows and Domestic Political Stability.
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence),
2. Due to Geopolitical Tensions and Trade war between US and China
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||JAN 2020||70.59||70.89|
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, December 13, 2019 - 11:39 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
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