LINGERS NEAR 3-MTH LOWS
DATE: 23/04/2012
The Indian rupee continued to linger near the three month low level against the US dollar on Monday, April 23, 2012, below the Rs. 52 per dollar mark. The domestic currency opened almost flat at 52.08 to a dollar and climbed to a high of 52.03 before slipping to a low of 52.13 so far during the day. Gains registered over the weekend by euro versus the greenback eased during early Asian hours, in turn weighing down rupee alongside most regional peers. Local equities were also trading subdued close to the red line so far, not supporting the domestic unit.
In the spot currency market, the India unit was last seen trading near intraday lows of 52.13, lower by around 5 paise or 0.09% as compared to previous close at 52.08.
The European unit came off two week highs against the US dollar retreating from a high of $1.3227 hit on Friday, drawing limited support from the weekend decision to double the International Monetary Fund’s warchest. Worries about upcoming debt auctions in Italy and the Netherlands and concerns about a political repercussion against austerity measures has likely kept the single common currency in check. Risk aversion was limited after a report showed Chinese factory activity stabilizing in April, lessening worries about a sharp deceleration in the worlds second-largest economy.
Domestic shares continued to linger close to the red line although in the positive side. Asian stocks edged lower amidst volatility. Meanwhile, foreign institutional investors (FIIs) bought Indian shares worth Rs 314.04 crore on Friday, 20 April 2012, as per provisional data from the stock exchanges. At the time of writing, Indias key benchmark BSE Sensex is up 24 points at around 17397 while S&P CNX Nifty is higher by just 3 points to be at 5293.
In the domestic currency futures market on the NSE, the forwards month 26 April 12 contract opened on Monday, April 23, 2012 at 52.17, higher than the spot market rupee. The contract hit an intraday high at 52.22 and registered a low at around 52.08 so far during the day. At the time of writing, the NSE April 2012 USD/INR contract was trading at around 52.22, up by 3 paise or 0.06% as compared to previous close at 52.18.
In the spot currency market, the India unit was last seen trading near intraday lows of 52.13, lower by around 5 paise or 0.09% as compared to previous close at 52.08.
The European unit came off two week highs against the US dollar retreating from a high of $1.3227 hit on Friday, drawing limited support from the weekend decision to double the International Monetary Fund’s warchest. Worries about upcoming debt auctions in Italy and the Netherlands and concerns about a political repercussion against austerity measures has likely kept the single common currency in check. Risk aversion was limited after a report showed Chinese factory activity stabilizing in April, lessening worries about a sharp deceleration in the worlds second-largest economy.
Domestic shares continued to linger close to the red line although in the positive side. Asian stocks edged lower amidst volatility. Meanwhile, foreign institutional investors (FIIs) bought Indian shares worth Rs 314.04 crore on Friday, 20 April 2012, as per provisional data from the stock exchanges. At the time of writing, Indias key benchmark BSE Sensex is up 24 points at around 17397 while S&P CNX Nifty is higher by just 3 points to be at 5293.
In the domestic currency futures market on the NSE, the forwards month 26 April 12 contract opened on Monday, April 23, 2012 at 52.17, higher than the spot market rupee. The contract hit an intraday high at 52.22 and registered a low at around 52.08 so far during the day. At the time of writing, the NSE April 2012 USD/INR contract was trading at around 52.22, up by 3 paise or 0.06% as compared to previous close at 52.18.
| RBI REF RATE | ||||
| Date | USD | GBP | EURO | YEN |
| 20-APR-12 | 52.00 | 83.54 | 68.40 | 63.70 |
| % Change* | -0.21 | -0.43 | -0.49 | -0.08 |
| *As against previous working day | ||||
POWERED BY: COMMODITY INSIGHTS
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