RUPEE: OPENS FIRM FOR THIRD STRAIGHT DAY
DATE: 18/07/2012
The Indian rupee commenced stronger
for the third consecutive session on Wednesday, July 18, 2012 tracking higher
Asian shares and euro on slightly improved risk sentiments. Hopes the U.S.
central bank has left the door open for more stimulus measures later in the
year, after chairman Ben Bernanke outlined a gloomy view of the U.S. economic
recovery, aided sentiments. The domestic currency opened higher by 9 paise at
Rs 55.03 to a dollar but edged back lower to a low of 55.21 so far during the
day. Local shares remained almost flat close to the red line that weighed down
the domestic unit to some extent. In the spot currency market, the Indian unit
was last seen trading at 55.16, down around 4 paise or 0.07% as compared to previous
close at 55.12.
The euro got a leg up against the dollar on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank is ready to support the U.S. economy if needed, though gains were limited as the Fed chief remained vague about specific steps. It was last at $1.2280, below Tuesday's one-week high of $1.2317 but well off a two-year low of $1.2162 hit last week.
Domestic benchmark indices pared gains after an initial upmove on sustained recent buying on Indian equities by foreign funds. Foreign institutional investors (FIIs) are buying Indian stocks this month. FIIs bought shares worth a net Rs 474.95 crore on Tuesday, 17 July 2012, as per provisional data released by the stock exchanges. At the time of writing, the BSE Sensex was up 11.58 points or 0.07% to 17,116.88 while the S&P CNX Nifty was up 1.05 points or 0.03% to 5,193.90.
In the domestic currency futures market on the NSE, the forward month July contract opened on Wednesday, July 18, 2012 at 55.10, higher than the spot market rupee. The contract hit an intraday high at 55.28 and registered a low at around 55.06 so far during the day. At the time of writing, the NSE July 2012 USD/INR contract was trading at around 55.26, up by around 9 paise or 0.16% as compared to previous close at 55.17.
The euro got a leg up against the dollar on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank is ready to support the U.S. economy if needed, though gains were limited as the Fed chief remained vague about specific steps. It was last at $1.2280, below Tuesday's one-week high of $1.2317 but well off a two-year low of $1.2162 hit last week.
Domestic benchmark indices pared gains after an initial upmove on sustained recent buying on Indian equities by foreign funds. Foreign institutional investors (FIIs) are buying Indian stocks this month. FIIs bought shares worth a net Rs 474.95 crore on Tuesday, 17 July 2012, as per provisional data released by the stock exchanges. At the time of writing, the BSE Sensex was up 11.58 points or 0.07% to 17,116.88 while the S&P CNX Nifty was up 1.05 points or 0.03% to 5,193.90.
In the domestic currency futures market on the NSE, the forward month July contract opened on Wednesday, July 18, 2012 at 55.10, higher than the spot market rupee. The contract hit an intraday high at 55.28 and registered a low at around 55.06 so far during the day. At the time of writing, the NSE July 2012 USD/INR contract was trading at around 55.26, up by around 9 paise or 0.16% as compared to previous close at 55.17.
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RBI
REF RATE
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||||
|
Date
|
USD
|
GBP
|
EURO
|
YEN
|
|
17-JUL-12
|
55.15
|
86.30
|
67.73
|
69.88
|
|
%
Change*
|
-0.41
|
-0.97
|
-0.85
|
-0.53
|
|
*As
against previous working day
|
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POWERED BY: COMMODITY INSIGHTS
www.goldennifty.com
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