Published on 15/11/2019 10:18:19 AM | Source: Geojit Financial Services Ltd

FBIL set reference rate for dollar at 71.7002 and euro at 78.9744 - Geojit Financial

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

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

News Box

* Rupee ended at 71.96 a dollar yesterday, up 13 paise against its previous close of 72.09.

* FBIL set reference rate for dollar at 71.7002 and euro at 78.9744.

* Foreign investors buy net INR15.2b of India equities on Wednesday.

* Yield on 6.45% bonds maturing July 2029 at 6.521% on Nov. 14.

* In economic news, WPI (Oct) released yesterday touched 3 year low while trade balance is expected today.

* US dollar was steady as waited more details from US-Sino trade developments.

* US weekly jobless claims jumped to nearly 5-month high while while retail sales and IIP are due today.

* Euro was unchanged UK's pound hit a six month high on the optimism over upcoming election.

* Japan’s yen headed for its biggest weekly gain since early October after on a report that said the U.S. and China are struggling to finalize the first phase of a trade deal.

* On the data front, China's new home price growth was at 14 month low.


Traders' Corner

After slipping below the 72- mark in the previous day, the Indian unit revived and ended higher after five days of downtrend tracking the gains in the capital markets segment. However, stronger American currency and rising oil prices capped more gains. After witnessing a higher opening, the local currency traded in the range of 71.85 and 72.24 before settling the day at 71.96 against its previous close of 72.09. On the previous day, it depreciated by 62 paise.

FIIs turned sellers after 11 trading days in the capital market segment; sold shares worth Rs 562.05cr as per exchange' provisional figures while DIIs were buyers to the tune of Rs 82.74cr for the same period. Oil prices were steady as took cues from recent economic data and awaited more cues from the US-China trade talks. On the domestic front, wholesale price based inflation came out yesterday that was weighted down by the contraction in manufactured products, fuel and power prices. Today trade balance figures are keenly watched.

For USDINR pair, 72.21 and 72.41 will be the major levels on the upside. Conversely if 71.86 level breaks, then 71.61 level will be in play.


To Read Complete Report & Disclaimer Click Here


For More Geojit Financial Services Ltd Disclaimer 
SEBI Registration Number: INH200000345


Views express by all participants area for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer