Currency Daily Technical Report For 1st Oct 2013 - Angel Commodities Pvt Ltd

Dollar/INR

The Indian Rupee depreciated around 0.1 percent in yesterday’s trading session. The currency depreciated on the back of rising  concerns regarding the US debt ceiling coupled with weak global and domestic market sentiments. Also, month end dollar demand from  importers and dollar buying by foreign banks on behalf of custodial clients act

We expect Indian Rupee to depreciate taking cues from weak global and domestic market

Dollar/INR

During the last week, the Rupee depreciated around 0.4 percent on the back of US debt ceiling concerns and mixed global market  senti ments. Also, month end dollar demand from importers and dollar buying by foreign banks on behalf of custodial clients acted as a negative factor. However, sharp downside in the currency was prevented as a selling of

We expect the USDINR may open higher tracking the trend of regional stock and currencies

Market Review

After a firm opening, the Indian rupee reversed the trend from mid session on US dollar demand from oil-related and defence-related buying along with possible custodian outflow. At the interbank markets, the Indian rupee ended at 62.5100 a dollar, down 44 paisa from 62.0700 at close  Thursday. On another round of measures, the RBI on Wednesday l