The rupee has been the worst performing currency in Asia during the last 12 months, having fallen most against the US greenback. However, a sharp depreciation has not been peculiar to India with most of the world's major currencies falling against the dollar during this period. The global situation partially explains RBI's stance to remain relatively unflustered despite an 18% drop in 12 months. The dollar index, which is measured against a basket of currencies including euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc, has gained 8.52% in the last one year.
Major Market News –
Most global currencies have fallen against dollar.
Rupee strengthens for second session, RBI intervenes.
Euro dips below $1.25 on Greek, Spanish woes.
Sterling hovers above 2-mth lows vs dollar.
Rupee off lows; exporters, foreign banks sell.
USDINR –
USDINR after making lifetime high resisted near 56.5000 level and rebounded towards 55.0000. On daily charts, it has tested the trend line acting as support and is it breaks this support of 55.2100 then it may drag towards the next support of 54.5825. On higher side, 55.8800 is seen as resistance for it.
EURINR –
EURINR also reversed from its previous highs of 71.1000 and took support at the trend line coming from its previous lows on its daily charts. If it holds below the support of 69.3900 then it is expected to test the level of 68.7025-68.2100 while a reversal from this trend line can lead it towards the resistance of 70.1700.
INTERNATIONAL UPDATES –
Euro Suffers Biggest Loss of Year on Concern About Spain, Greece Turmoil.
Pound Reverses Earlier Decline Against Euro; Advances 0.1% to 79.93 Pence.
Asian Currencies Drop a Fourth Week as EU Crisis Hurts Exports.
Brazil’s Real Rises Past 2 Per Dollar as Central Bank Sells Currency Swaps.
For more information Click Here
Stock Tips, Commodity Tips
Major Market News –
Most global currencies have fallen against dollar.
Rupee strengthens for second session, RBI intervenes.
Euro dips below $1.25 on Greek, Spanish woes.
Sterling hovers above 2-mth lows vs dollar.
Rupee off lows; exporters, foreign banks sell.
USDINR –
USDINR after making lifetime high resisted near 56.5000 level and rebounded towards 55.0000. On daily charts, it has tested the trend line acting as support and is it breaks this support of 55.2100 then it may drag towards the next support of 54.5825. On higher side, 55.8800 is seen as resistance for it.
EURINR –
EURINR also reversed from its previous highs of 71.1000 and took support at the trend line coming from its previous lows on its daily charts. If it holds below the support of 69.3900 then it is expected to test the level of 68.7025-68.2100 while a reversal from this trend line can lead it towards the resistance of 70.1700.
INTERNATIONAL UPDATES –
Euro Suffers Biggest Loss of Year on Concern About Spain, Greece Turmoil.
Pound Reverses Earlier Decline Against Euro; Advances 0.1% to 79.93 Pence.
Asian Currencies Drop a Fourth Week as EU Crisis Hurts Exports.
Brazil’s Real Rises Past 2 Per Dollar as Central Bank Sells Currency Swaps.
For more information Click Here
Stock Tips, Commodity Tips
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