# USDINR trading range for the day is 67.65-68.05.
# Rupee fell to a one-week low after the U.S Federal Reserve signalled a faster-than-expected pace of tightening next year.
# There was no sign of Reserve Bank of India intervening in the currency market, but the central bank could step in if the rupee fell sharply.
• Fed's Yellen says rate hike is a reflection of confidence in economic progress, a vote of confidence in US economy.
• Fed's Yellen says Fed making progress toward inflation, job goals; US has a strong labor market and a resilient economy.
• Fed's Yellen says [FOMC] wants inflation to rise to 2
The Indian Rupee appreciated by 0.15 percent in yesterday’s trading session on the back of ease in inflation. Traders speculate that contraction in IIP and ease in inflation may provide room for RBI to cut interest rates further. However, sharp gain was prevented on strong dollar and as investors remained cautious ahead of US Federal Res
US DOLLAR INDEX (USD)
The US Federal Reserve in Dec’16 FOMC meeting that took place yesterday raised interest rates for the second time since 2008 crisis. The target federal funds rate was hiked by 25 basis points to between 0.50 percent and 0.75 percent. Not only this, the US Fed Chairwoman Janet Yellen stated that this move was a modest adjustm
* USDINR trading range for the day is 67.38-67.72.
* Rupee traded flat ahead of the outcome of the two-day FOMC meeting and after India's retail inflation print edged lower.
* India's retail inflation in November fell to record low level under the new series on account of demonetization drive initiated by the governme
* Euro currency traded lower by more than 1 percent in the last week as the after-effects of ECB Monetary policy outcome dented the demand for the shared currency.
* ECB committee extended its bond-buying program until Dec’17 and surprised the markets by announcing to buy bonds worth €60 billion a month from Apr’17. The
The Indian Rupee depreciated by 0.18 percent in yesterday’s trading session on the back of strong dollar and as investors remained cautious ahead of macroeconomic data and US Federal Reserve policy meet. India CPI is likely to ease to 3.9 percent in November compared to 4.2 percent in October. Further, FII outflows from local shares add
US DOLLAR INDEX (USD)
US Dollar Index traded mostly in a range bound manner in yesterday’s trading session as investors play safe prior to the Federal Reserve policy meeting where there is a widespread expectation for a rate hike. The Fed is widely expected to hike rates for the first time in a year on Wednesday, with investors pricing in a 100
# USDINR trading range for the day is 67.41-67.71.
# Rupee extended fall on dollar demand by oil importers amid rising bets of a Federal Reserve rate hike later.
# The ADB trimmed its 2016 growth estimate for India to 7.0% from 7.4% due to weak investment, and government's recent demonetization.
USDINR: On a downward trajectory
In June, USDINR had faced resistance near 78.6% retracement of the February-March fall. After that, it entered a correction mode. During September-October, the currency pair was in a consolidation phase, which broke out on the upside. In November, it rallied toward the high of Rs68.89, where the bears came in to restric