RUPEE:
HIGHER ON IMPROVED RISK APPETITE
DATE: 07/06/2012
Rupee rebounded on Thursday, June
07, 2012 for the fourth day tracking improved risk appetite with gains in the
euro overseas coupled with a strong start to domestic equities. The domestic
currency opened higher by nearly 22 paise at Rs 55.14, inched up to a high of
55.11 and slipped to a low of 55.30 so far during the day. The local currency
has remained well above the record lows registered last week, although the
sustainability is doubtful given the continued worries about the global economy
and the slump in confidence on India's own outlook. In the spot currency
market, the Indian unit was last seen trading at 55.16, up around 20 paise or
0.36% as compared to previous close at 55.36.
The euro hovered near two-week highs against the greenback early in Asia on Thursday on hopes of more policy actions in the Europe and US. Moreover, Germany and European Union officials are urgently exploring ways to rescue Spain's stricken banks, according to reports. The single currency last stood at $1.2563, having briefly risen to $1.2584, its highest level since late May and about 2.3 percent above a two-year low of $1.2288 hit last week.
The domestic benchmark indices edged higher to hit their highest level in four weeks in early trade after Prime Minister Manmohan Singh after trading hours on Wednesday, 6 June 2012, announced a big push to the infrastructure sector to revive sagging economic growth. The 50-unit S&P CNX Nifty regained psychological 5,000 mark, with gains in Asian stocks also boosting sentiment. Asian stocks jumped on Thursday, extending gains made in the previous session, as investors hoped for US and European monetary easing to counter growing economic woes.
Foreign institutional investors (FIIs) bought Indian shares worth a net Rs 269.22 crore on Wednesday, as per provisional figures from the stock exchange. At the time of writing, the BSE Sensex was up 124.99 points or 0.75% to 16,579.29 while the S&P CNX Nifty was up 35.25 points or 0.71% to 5,032.35.
In the domestic currency futures market on the NSE, the front month '27 JUN 12' contract opened at 55.32 on Thursday, June 07, 2012, higher than the spot market rupee. The contract hit an intraday high at 55.38 and registered a low at around 55.26 so far during the day. At the time of writing, the NSE June 2012 USD/INR contract was trading at around 55.35, lower by around 20 paise or 0.36% as compared to previous close at 55.55.
The euro hovered near two-week highs against the greenback early in Asia on Thursday on hopes of more policy actions in the Europe and US. Moreover, Germany and European Union officials are urgently exploring ways to rescue Spain's stricken banks, according to reports. The single currency last stood at $1.2563, having briefly risen to $1.2584, its highest level since late May and about 2.3 percent above a two-year low of $1.2288 hit last week.
The domestic benchmark indices edged higher to hit their highest level in four weeks in early trade after Prime Minister Manmohan Singh after trading hours on Wednesday, 6 June 2012, announced a big push to the infrastructure sector to revive sagging economic growth. The 50-unit S&P CNX Nifty regained psychological 5,000 mark, with gains in Asian stocks also boosting sentiment. Asian stocks jumped on Thursday, extending gains made in the previous session, as investors hoped for US and European monetary easing to counter growing economic woes.
Foreign institutional investors (FIIs) bought Indian shares worth a net Rs 269.22 crore on Wednesday, as per provisional figures from the stock exchange. At the time of writing, the BSE Sensex was up 124.99 points or 0.75% to 16,579.29 while the S&P CNX Nifty was up 35.25 points or 0.71% to 5,032.35.
In the domestic currency futures market on the NSE, the front month '27 JUN 12' contract opened at 55.32 on Thursday, June 07, 2012, higher than the spot market rupee. The contract hit an intraday high at 55.38 and registered a low at around 55.26 so far during the day. At the time of writing, the NSE June 2012 USD/INR contract was trading at around 55.35, lower by around 20 paise or 0.36% as compared to previous close at 55.55.
|
RBI
REF RATE
|
||||
|
Date
|
USD
|
GBP
|
EURO
|
YEN
|
|
06-JUN-12
|
55.50
|
85.58
|
69.30
|
70.40
|
|
%
Change*
|
0.12
|
-0.07
|
0.29
|
0.59
|
|
*As
against previous working day
|
||||
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