RUPEE:
REBOUNDS AS EURO; LOCAL SHARES OFF LOWS
DATE: 28/05/2012
The Indian rupee rebounded on Monday, May 28, 2012 tracking
local equities and regional currency peers that edged up from lows as surveys
showing a lead in opinion polls for Greece's pro-bailout camps helped calmed
fears of a disorderly exit from the euro bloc. The domestic currency opened up
by 18 paise at Rs. 55.20 to a dollar and registered a high of 55.02 and low of
55.26 so far during the day. Domestic shares also registered a sturdy rebound
climbing to fresh highs, supporting the local currency unit. In the spot
currency market, the Indian unit was last seen trading at near opening levels
at 55.20, up around 18 paise or 0.32% as compared to previous close at 55.38.
Key benchmark indices trimmed gains after hitting fresh intraday highs in morning trade. Firm Asian stocks underpinned sentiment. Most Asia markets rose in a choppy session on Monday, amid some encouraging signs on Greece's future within the euro zone, though investor caution capped broader gains. The 50-unit S&P CNX Nifty hit its highest level in 2-1/2 weeks. The barometer index, BSE Sensex, hit its highest level in nearly a week.
Foreign institutional investors (FIIs) sold Indian shares worth a net Rs 623.77 crore on Friday, 25 May 2012, as per provisional figures. FIIs sold shares worth Rs 2443.23 crore on nine sessions from 15 to 25 May 2012 as per provisional figures. At the time of writing, the BSE Sensex was up 80.80 points or 0.5% to 16,298.62 while the S &P CNX Nifty was up 27 points or 0.55% to 4,947.40.
The European unit also staged a rebound at the start of the week as opinion polls showing a lead for Greece's pro-bailout camps helped ease risk aversion and calm fears of a disorderly exit by Athens from the single currency. The US dollar that surged last week as investors sold off riskier assets and fled to the safety of the U.S. dollar last week on mounting concerns about Greece and instability in the Spanish banking sector, came off highs. The single common currency climbed back to 1.2598 versus the greenback from last week's low of 1.2495. The dollar index also came off last week's high of 82.47 to be currently at 81.93.
In the domestic currency futures market on the NSE, the forwards month '29 May 12' contract opened at 55.35 on Monday, May 28, 2012 higher than the spot market rupee. The contract hit an intraday high at 55.35 and registered a low at around 55.00 so far during the day. At the time of writing, the NSE May 2012 USD/INR contract was trading at around 55.20, lower around 20 paise or 0.36% as compared to previous close at 55.40.
Key benchmark indices trimmed gains after hitting fresh intraday highs in morning trade. Firm Asian stocks underpinned sentiment. Most Asia markets rose in a choppy session on Monday, amid some encouraging signs on Greece's future within the euro zone, though investor caution capped broader gains. The 50-unit S&P CNX Nifty hit its highest level in 2-1/2 weeks. The barometer index, BSE Sensex, hit its highest level in nearly a week.
Foreign institutional investors (FIIs) sold Indian shares worth a net Rs 623.77 crore on Friday, 25 May 2012, as per provisional figures. FIIs sold shares worth Rs 2443.23 crore on nine sessions from 15 to 25 May 2012 as per provisional figures. At the time of writing, the BSE Sensex was up 80.80 points or 0.5% to 16,298.62 while the S &P CNX Nifty was up 27 points or 0.55% to 4,947.40.
The European unit also staged a rebound at the start of the week as opinion polls showing a lead for Greece's pro-bailout camps helped ease risk aversion and calm fears of a disorderly exit by Athens from the single currency. The US dollar that surged last week as investors sold off riskier assets and fled to the safety of the U.S. dollar last week on mounting concerns about Greece and instability in the Spanish banking sector, came off highs. The single common currency climbed back to 1.2598 versus the greenback from last week's low of 1.2495. The dollar index also came off last week's high of 82.47 to be currently at 81.93.
In the domestic currency futures market on the NSE, the forwards month '29 May 12' contract opened at 55.35 on Monday, May 28, 2012 higher than the spot market rupee. The contract hit an intraday high at 55.35 and registered a low at around 55.00 so far during the day. At the time of writing, the NSE May 2012 USD/INR contract was trading at around 55.20, lower around 20 paise or 0.36% as compared to previous close at 55.40.
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RBI
REF RATE
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||||
|
Date
|
USD
|
GBP
|
EURO
|
YEN
|
|
25-MAY-12
|
55.73
|
87.26
|
69.89
|
69.98
|
|
%
Change*
|
1.00
|
1.13
|
1.30
|
1.17
|
|
*As
against previous working day
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POWERED BY: COMMODITY
INSIGHTS
www.goldennifty.com
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