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2012-01-27 FRIDAY Asian stocks advanced, heading for their sixth weekly increase, and the yen pared gains after Japanese Prime Minister Yoshihiko Noda said he expects the central bank to take “bold” policy actions to address the yen’s strength. Copper fell and the South Korean won weakened. U.S. stocks fell, reversing a rally that sent the Dow Jones Industrial Average toward its highest level since 2008 earlier today, as banks tumbled and a report showed that sales of new homes unexpectedly declined. New Zealand’s dollar was set to complete a six-week gain after a report showed the nation unexpectedly posted its first trade surplus in five months. Rupee opened at 49.7200/49.7300 against its previous closing of 50.0900/50.1000 and expected to trade in 49.6000/49.8500 range today. |
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2012/01/27 FRIDAY The Indian Rupee opened stronger today on expectations Greece would reach an agreement on restructuring its debt, which is likely to spur demand for risky assets. The Indian rupee touched a two and half month high today aided by firm local shares, as demand for riskier assets was spurred by hopes of Greece reaching an agreement on restructuring its debt soon. The bullishness in the euro and as well as in stocks is set to continue and the Rupee may also test 49.00 levels in the short term. The euro held on to most recent hefty gains against the dollar, after hitting a five week high, as the Fed pledged to keep rates near zero for the next three years, encouraged carry trades funded in dollars. Also Indian shares rose 1 percent today extending gains to a sixth consecutive session on rising foreign fund investments. Fed Chairman Ben S. Bernanke laid the groundwork for a third round of quantitative easing through asset purchases, a so-called QE3, saying two days ago the Fed is prepared for further “accommodation.” U.S. monetary stimulus, blamed in 2010 for spurring speculative capital flows to emerging markets, may find less opposition this time round in Asia as the region’s focus shifts to supporting economic growth. Intraday we expect the rupee to trade in the range of 49.60 – 49.85 |
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INR Rates
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Symbol |
Bid |
ASK |
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USD | 52.98 |
52.99 | | |
GBP | 83.03026 |
83.05145 | | |
EUR | 69.23426 |
69.25016 | | |
JPY | 0.68212 |
0.68238 | | |
CHF | 56.79674 |
56.80892 | | |
AUD | 53.98132 |
54.00781 | | |
SGD | 40.93332 |
40.94914 | | |
CAD | 52.14054 |
52.16107 | | |
NZD | 41.17606 |
41.20255 | | | *Closing Rates on : 2011-12-28 |
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Stock Indices
| BSE Sensex | 17233.98 | 156.8 |  | | | S&P CNX Nifty | 5204.7 | 46.4 | | | | NASDAQ | 2461.77 | 7.14 | | | | HangSeng | 20501.67 | 62.53 | | | | DJ IA | 12660.46 | -74.17 |  | | | DAX | 6511.98 | -27.87 | | |
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