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Published on 30/10/2019 11:06:33 AM | Source: Geojit Financial Services Ltd

FBIL set reference rate for dollar at 70.9593 and euro at 78.8121 - Geojit Financial

Posted in Currency Report| #Currency Tips #Geojit Financial Services Ltd

News Box

* Rupee ended at 70.84 a dollar yesterday, up 4 paise against its previous close of 70.88.

* FBIL set reference rate for dollar at 70.9593 and euro at 78.8121.

* Global Funds Buy Net INR8.77B of India Stocks Tuesday: NSE; Foreigners Buy Net INR40.3b of India Equity Derivatives Tuesday.

* Yield on 6.45% bonds maturing July 2029 at 6.518% on Oct. 29.

* US dollar fell against a basket of currencies as waited Fed policy outcome.

* FOMC began its two day meeting yesterday while the decision is expected later today.

* In economic news, US pending home sales jumped 1.5% in September led by lower mortgage rates.

* Euro was unchanged while UK's pound was flat after British lawmakers backed a snap election on Dec 12.

* Japan’s yen steadied after snapping a two-day decline as players stayed to the sidelines ahead of the Federal Reserve’s rate decision later Wednesday.

* Data released showed Japan's retail sales for Sep surged 9.1% YoY.

* PBOC has set the yuan reference rate at 7.0582 versus Tuesday's fix at 7.0617.

 

Traders' Corner

Tracking the gains in the domestic equities and easing oil prices aided the Indian unit, that closed higher for a second day. Investors also focused on the Oct expiry of currency futures yesterday. Rupee on Tuesday opened at 70.72 a dollar and moved in the range of 70.68 and 70.91 before ending the session at 70.84 against its Friday's close of 70.88. Indian markets were closed on Monday on account of Diwali holiday.

FIIs turned buyers in the capital market segment; bought shares worth Rs 876.64cr as per exchange's provisional figures. DIIs, on the other end were also buyers to the tune of Rs 144.75cr for the same period. Oil prices fell for a third day after data showed rise in the stock piles. For markets around the globe were focusing on the US central bank meeting decision that scheduled later today.

For USDINR pair, 70.94 and 71.12 will be the major levels on the upside. Conversely if 70.60 level breaks, then 70.48 level will be in play.

 

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