Today Rupee Opens Marginally Higher at 67.50 per dollar At currency Market

Today Rupee Opens Marginally Higher at 67.50 per dollar At currency Market

The Indian rupee opened marginally higher at 67.50 per dollar on Friday against previous close of 67.52.

 

Pound is headed for a second weekly drop as traders mull the political fallout from the brexit vote, along with signs the Bank Of England may cut interest rates in the coming months.

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Today Rupee rises 17 paise , opens at 67.78 per dollar At Currency market

Today Rupee rises 17 paise , opens at 67.78 per dollar At Currency market

 

The Indian rupee opened higher by 17 paise at 67.78 per dollar on Wednesday versus previous close 67.95. The pound was little changed at USD 1.33 versus the dollar after gaining 0.9 percent last session, halting a two-day selloff.

US DOLLAR INDEX (USD)

In spite of the robust release of GDP data and consumer confidence data from the nation, the American currency traded lower by 0.4 percent in yester day’s trading session. The reason for this could be attributed to the recent strength in the currency that prompted the traders to book profits. Moreover, the robust release of economic data sets from the nations calmed the markets and prompted the trader s’ to place risky assets thereby denting the demand for safe haven DX. Furthermore, investors believe that given the latest event that has caused jitters and uncertainty in the markets, the US Feds ambitions for two rate rises this year may be placed on hold.

OUTLOOK 

 

From the intra - day perspe ctive, Rupee is likely to trade sideways to positive as yesterday’s robust release of GDP and consumer confidence data from the US will keep the DX supported. However, positive trading in the Asian market equities will govern the trend of the Indian markets and its currency. 

 

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Today Rupee gains 18 paise, opens at 67.77 per dollar At currency Market

Today Rupee gains 18 paise, opens at 67.77 per dollar At currency Market

The Indian rupee gained in the early trade on Tuesday. It has opened higher by 18 paise at 67.77 per dollar against 67.95 Monday.

The pound arrested its drop versus the dollar amid signs the market may be taking a breather following the UK's shock vote to leave the european union. All eyes on the two-day EU leaders summit commencing later today. The US dollar index above 96 levels.

US DOLLAR INDEX (USD) 

The American currency saw a rise of 1.2 percent in yesterday’s trading session as Investors parked their funds in safe - haven DX after Britain voted to leave the European Union in the recent EU Referendum. Markets in the last week traded in a volatile manner as investors kept speculating whether or not Britain will leave EU. All the polls and initial vote count showed a major lead in ‘remain’ camp. Howeve r, the tables turned on Friday when the ‘Leave’ camp won by 51.9 percent. Since then the demand for US Dollar Index rose. However, investors believe that given the latest event that has caused jitters and uncertainty in the markets, the US Feds ambitions for two rate rises this year may be placed on hold. 

OUTLOOK

 From the intra - day perspective, Rupee is likely to trade lower owing to strength seen in the American currency as markets are playing safe after the shocking vote out of Britain from the European Union which has created uncertainty in the markets.

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Today Rupee opens lower at 68.08 per dollar At Currency Market

Today Rupee opens lower at 68.08 per dollar At Currency Market

 

The Indian rupee opened lower by 12 paise at 68.08 per dollar on Monday versus 67.96 Friday.
The trading range for the USD-INR pair is seen between 67.80-68.20/dollar,

Pound extended its selloff near a 31-year low as the fallout from the UK's vote to exit the European Union stoked anxiety among investors around the world.

US DOLLAR INDEX (USD)

Markets in the last week traded in a volatile manner as investors kept speculating whether or not Britain will leave EU. All the polls and initial vote count showed a major lead in ‘remain’ camp. However, the tables turned on Friday when the ‘Leave’ camp won by 51.9 percent. This prompted the traders to place fresh bets in safe - haven DX which saw a rise of 2 percent in the last week. However, investors believe that given the latest event that has caused jitters and uncertainty in the mark ets, the US Feds ambitions for two rate rises this year may be placed on hold. US Dollar Index made a weekly high of 96.70 and closed at 95.57 on Friday

OUTLOOK

From the intra - day perspective, Rupee is likely to depreciate as demand for safe - haven DX will rise as Britains have voted to leave the European Union which has created uncertainty in the markets.

 

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Today Rupee Declines 66 paisa , Opens at 67.91 per Dollar At Currency Market

Today Rupee Declines 66 paisa , Opens at 67.91 per Dollar At Currency Market

The Indian rupee declined in the opening trade on Friday ahead of Brexit referendum. It has opened lower by 66 paise at 67.91 per dollar versus previous close of 67.25.

The pound collapsed to its lowest level since 1985 as it down 10 percent against US dollar ahead of Brexit concern.

US DOLLAR INDEX (USD)

Markets have been trading in a volatile manner since the last 3 - 4 days owing to the looming concerns over EU Referendum which has spread across the markets. Yesterday the US Dollar slumped by 0.2 percent as markets rejoiced the lead for "Remain" campaign in the polls that were held prior to voting. However the latest scenario shows altogether a different picture . Early voting count shows a major lead in ‘ Britain leaving EU’ campaign. US Dollar Index made an intraday low of 93. 68 and closed at 93.53 on Thursday.

OUTLOOK

From the intra - day perspective, Rupee is likely to depreciate as demand for safe - haven DX will rise as latest vote count suggested lead for Leave campaign. 

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Today Rupee Opens Marginally Higher At 67.43 per Dollar in Currency Market

Today Rupee Opens Marginally Higher At 67.43 per Dollar in Currency Market

 

The Indian rupee opened marginally higher at 67.43 per dollar on Thursday versus previous close 67.48.

"Global currency markets are expected to stay flat in a tight range a day prior to Brexit referendum. Markets are currently expecting UK to vote for 'remain in EU'.

 

However, a Brexit vote can cause volatility in currency markets particularly in EM currencies." "The USD-INR trading range for the day is seen between 67.20-67.50/dollar,"

The pound climbed to a 2016 high, bringing higher-yielding currencies up with it as confidence mounted that the UK will vote to remain a member of the european union in Thursday's referendum.
 

US DOLLAR INDEX (USD)

The American currency traded lower by 0.3 percent yesterday as markets are discounting the recent two - day semiannual monetary policy testimony made by the US Fed Chairwoman Janet Yel len. She cautioned the markets that a possible ‘Brexit’ could leave the Euro - zone’s economy in trotters. Moreover, one of the final polls before the EU referendum showed large lead for "Remain" campaign. This prompted the traders to make risky bets thereby denting the demand for safe - haven DX. US Dollar Index made an intraday low of 93.50 and closed at 93.76 on Wednesday

OUTLOOK

From the intra - day perspective, Rupee is likely to tra de sideways to higher owing to optimism in the market after the latest polls showed larger lead for ‘ remain ’ campaign. This has led to positive trading in emerging markets which in turn will lend some support to Indian markets and its currency.

 

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Today Rupee declines further, opens at 67.59 per dollar at Currency Market

Today Rupee declines further, opens at 67.59 per dollar at Currency Market

The Rupee is expected to trade sideways in a range of 67.20-67.80/dollar considering mixed cues from global equity markets,

The Indian rupee declined in the early trade on Wednesday. It has opened lower by 10 paise at 67.59 per dollar against previous close of 67.49.

"The rupee is expected to trade sideways in a range of 67.20-67.80/dollar considering mixed cues from global equity markets, the dollar index and nervousness ahead of the EU referendum."

The dollar edged after news that a new poll on Britain's referendum on european union membership showed growing support for the leave camp, pushing down the euro and sterling.

Meanwhile the euro dropped the most in a week after European Central Bank President Mario Draghi reiterated his willingness to act to bolster inflation.

US DOLLAR INDEX (USD)

The American currency traded higher by 0. 4 percent yesterday as looming concern over EU Referendum that is to be held tomorrow has prompted the traders to place bets in safe - haven assets. Due to this, the US Dollar rose versus its peers. In yesterday’s testimo ny US Fed Chairwoman cautioned the markets that a possible Brexit could leave the Euro - zone’s economy in trotters. However, new polls showed support for the “stay” camp growing. All of the above factors acted as a positive factor for the American currency. US Dollar Index made an intraday high of 94.20 and closed at 94.06 on Tuesday.

OUTLOOK

From the intra - day perspective, Rupee is likely to trade sideways to lower as upcoming EU referendum will boost the demand for safe - haven DX. This will act as a negative factor for the Rupee.

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Today Rupee opens lower at 67.40 per dollar At the Currency Market

Today Rupee opens lower at 67.40 per dollar At the Currency Market

We expect the pair to trade in the 67-68/dollar range with a weakening bias, says Ashutosh Raina of HDFC Bank.

The Indian rupee opened lower by 9 paise at 67.40 per dollar on Tuesday versus 67.31 Monday. Ashutosh Raina of HDFC Bank said,

"The Indian markets seem to have taken the Rexit in their stride with equity, bond and currency markets coming off their intra-day lows, in tandem with the global risk-on sentiment, as Brexit fears have eased substantially.

" He further added, "The USD-INR pair after hitting 67.70/dollar closed at 67.30/dollar, on suspected support from RBI. We expect the pair to trade in the 67-68/dollar range with a weakening bias."

The pound retreated after its strongest surge since 2008, as polls published early today highlighted that the "leave" campaign retains strong support. Meanwhile the yen continues to strengthen. 

 

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Today Rupee slips 57 paise ; Opens at 67.65 per dollar At currency market

Today Rupee slips 57 paise ; Opens at 67.65 per dollar At currency market

 

We expect the rupee to depreciate to 67.70/dollar in three months and 71/dollar in 12 months,

The Indian rupee slipped in the early trade on Monday. It has opened lower by 57 paise at 67.65 per dollar versus 67.08 Friday. Credit Suisse says that the RBI governor Raghuram Rajan's unexpected departure is negative for the currency as it raises uncertainty over the new monetary policy framework and managing potential volatility around events like FCNR redemption in Sep-Nov 2016. It expects the Indian currency to depreciate to 67.70 in three months and 71.0 in 12 months.

US DOLLAR IN DEX (USD)

The American currency traded on a flat note yesterday as markets discounted the outcome of FOMC meeting along with the disappointing release of economic datasets like CPI and unemployment claims from the nation. in the recent FOMC meeting, the central bank kept the key interest rates unchanged and cited the EU Referendum as one of the factors to keep interest rates on hold. In spite of the recent disappointing release of economic datasets from the nation along wi th uncertainties in the global economy, Federal Reserve still hints a two gradual rate hikes in 2016. However, the number of officials that expect the Fed to raise rates only once this year has gone up significantly. The committee also cut its 2016 econom ic growth forecast to 2 percent from 2.2 percent. Projection for economic growth in 2017 was also slightly decreased . US Dollar Index made an intraday low of 94.26 and closed at 94.71 on Thursday

Outlook

From the intra - day perspective, Rupee is likely to trade lower owing to weakness in the DX that will provide some support to the Indian Rupee. US Federal Reserve kept the key interest rates unchanged and cited the EU Referendum as one of the factors to keep interest rates on hold. 

 

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