Forex Analysis

oreign Exchange Market Analysis Report:
International Forex Market Trend / Comments / Information / Report and Rates provided below was last updated in part or full on Friday, June 05, 2009 - 10:04 am (GMT +05:30:00) - Indian Standard Time.
Live Market Rates (Updated Frequently):
Currency Bid Ask
Rates Updated as on Jun 05, 2009 16:42 Indian Standard Time (GMT+05:30).
Rates updated only in forex trading hours on bank working days monday to friday.
Click Here to See the Foreign Exchange Live Rates and Trend Charts.
US Dollar 47.1300 47.1500
Euro 66.7600 67.0100
Pounds 75.9000 76.1500
INR / USD / EURO / GBP
Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Previous day-----47.0600/47.3200---66.26/67.07 76.21/77.43
Today's opening-47.20/47.22---66.90/67.00 76.95/77.05
Expected range for today
---------------------46.7000/47.2000-------------------------------
& current month-46.5000-48.5000----------------------------------
On Thursday, Rupee opened the trade at 47.20/22 in a weaker note. Expected FII outflows on account of weaker stock indices and stronger dollar overseas weakened the Rupee upto the level of 47.32 during the initial hours of trade. However exporters dollar sales restricted further depreciation of Rupee and Reversal of stock indices into positive territory has also strengthened the Rupee further upto the level of 47.06. However dollar buying by importers and short covering by banks during the closing hours exerted pressure on Rupee to some extend and Rupee closed the trade at 47.20/21.

SPOT/INR :
Today Rupee opened the trade at 47.12/14. Weaker dollar overseas and likely positive stock indices could support the Rupee. Exporters dollar sales could also strengthen the Rupee further. Importers dollar demand at dips and dollar buying by nationalised banks on behalf of Reserve Bank of India if any could restrict any sharp appreciation of Rupee. Stock market trend and overseas dollar movement could provide intraday direction for Rupee�s trade.
Forward Premium :
On Thursday, forward premiums eased on exporters covering. Today, premiums are likely to trade tracking domestic treasury yields.
Global Developments :
Dollar lost some of its gains against all major currencies. Major stock indices are seen positive. Oil and Gold prices inched up a little bit.
Near Term Outlook for Rupee:
Given the present outlook of Rupee, Importers may cover their near term commitments at dips.
FACTORS FOR AND AGAINST RUPEE ARE:
FOR:
1. Higher forex reserves
Against:
1. Higher Trade deficit
2. Stronger dollar overseas
Indicative / Forward / Cross Rates:
Currency For Export For Import Month For Export For Import
Indicative Rates Indicative Forward Rates
USD 47.02 47.24 JUNE 2009 47.02 47.34
Indicative Cross Rates JULY 2009 47.11 47.48
EURO 1.4160 1.4250 AUG 2009 47.24 47.61
GBP 1.6080 1.6170 SEP 2009 47.37 47.71
JPY 97.20 96.30 OCT 2009 47.47 47.81
CHF 1.0710 1.0620 NOV 2009 47.57 47.89
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.
Card Rates:
Exchange Rates Information last updated in part or full on Friday, June 05, 2009 - 10:04 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
Currency TT Bills Cheqs Bills TT
Foreign Currency Buying Selling
EURO 66.43 66.45 66.33 67.65 67.55
POUND STERLING 75.55 75.57 75.44 76.67 76.56
US DOLLAR 46.97 46.99 46.90 47.44 47.36
CAN DOLLAR 42.36 42.36 42.30 43.49 43.47
SWISS FRANC 43.42 43.42 43.35 44.70 44.69
HKD 6.02 6.03 6.01 6.19 6.16
YEN 47.89 47.89 47.82 49.26 49.25
SGD 31.99 31.99 31.94 33.23 33.21
AUD 37.42 37.43 37.36 38.56 38.54
Currency CCY Buying CCY Selling TC Buying TC Selling
EURO 65.80 68.00 66.00 67.95
POUND STERLING 74.75 77.10 74.95 76.90
US DOLLAR 46.40 48.05 46.60 47.65
Prime Rates:

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

Interest Rates on FCNR-B Deposits:

Period / Currency USD GBP Euro CAD AUD
Above Interest Rates applicable from Jun 01, 2009 to Jun 30, 2009.
12 Months 2.60% 2.76% 2.64% 2.45% 4.98%
18 Months 2.49% 2.85% 2.70% 2.28% 4.82%
24 Months 2.38% 2.93% 2.76% 2.11% 4.65%
30 Months 2.69% 3.24% 2.98% 2.42% 4.98%
36 Months 2.99% 3.55% 3.19% 2.73% 5.31%
42 Months 3.26% 3.78% 3.38% 2.93% 5.54%
48 Months 3.52% 4.00% 3.56% 3.13% 5.76%
54 Months 3.72% 4.15% 3.72% 3.30% 5.89%
60 Months 3.92% 4.30% 3.87% 3.47% 6.02%
NOSTRO: These accounts are Foreign Currency accounts maintained by us abroad. If the instructions are given as mentioned above, we will be able to apply the funds immediately on receipt of our account. The remittances can be made through the NOSTRO accounts for the credit of your account with us: