MENU

Published on 13/02/2020 10:27:27 AM | Source: Geojit Financial Services Ltd

FBIL set reference rate for dollar at 71.2291 and euro at 77.7067 - Geojit Financial

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

 

News Box

* Rupee ended at 71.33 a dollar yesterday, down 5 paise against its previous close of 71.28.

* FBIL set reference rate for dollar at 71.2291 and euro at 77.7067.

* In economic news, Jan CPI hit an 68 month high while IIP contracted in December.

* Global Funds Sell Net INR488.1M of India Stocks Wednesday: NSE; Foreigners Buy Net INR29.3B of Indian Equity Derivatives Wednesday.

* Yield on 6.45% bonds maturing July 2029 at 6.48% on Feb. 12.

* India to release its WPI for Jan tomorrow.

* US dollar edged higher against a basket of currencies amid safe haven asset demand.

* On the data side, US inflation, Initial and continuing jobless claims are scheduled to release today.

* Euro fell to its lowest level since 2017 while UK's pound turned to economic data.

* Japan’s yen steadied near three-week low after falling for a third day as investors reconsider economic risks from the coronavirus.

* PBOC has set the Yuan reference rate at 6.9785 versus Wednesday's fix at 6.9718.

 

Traders' Corner

Indian currency after a positive opening, gave up its two day gains as the investors shifted focus towards the major economic data in the later part of the day. Also greenback strengthening led by the US dollar demand by importers weighted in the currency. Local currency started trading at 71.21 and made an high and low of 71.35 and 71.19 respectively before ending the session at 71.33 against its previous close of 71.28.

FIIs were buyers in the capital market segment; bought shares worth Rs 48.81cr as per exchange's provisional figures on 12 Feb while DIIs were also buyers to the tune of Rs 339.19cr for the same period. Oil prices reversed some of its gains on demand concerns as deadly virus case toll increased. On the domestic front, retail inflation for January rose to 7.59% from 7.35% MoM pushed up by the higher food prices and telecom tariffs. On the other end, IIP for Dec contracted by 0.3%. Yesterday, Fed Chairman continued his testimony for a second day, where the head said "ready to use QE and also the forward guidance "aggressively" in a downtrend". Now for the markets, WPI for Jan will be in focus that will be released tomorrow.

For USDINR pair, 71.54 and 71.77 will be the major levels on the upside. Conversely if 71.14 level breaks, then 70.77 level will be in play.

 

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer