Forex Market News

After A Solid Opening, Rupee Extends Gains Past 70/$

The Indian rupee, on Wednesday, opened over 34 paise higher against the US dollar at 70.10 per US dollar. Falling crude oil prices is aiding the rally on Indian currency.

The currency further gained strength as it passed 70 per US dollar mark. It touched an intraday low of 69.89 per US dollar.

The currency on December 18 rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India’s current account deficit expansion.

Besides, sustained selling of the American currency by exporters and banks as well as the greenback’s weakness against its key rivals globally ahead of the US Fed policy decision on December 19 also helped the domestic unit scale further heights.

The Indian currency had gained 34 paise to close at 71.56 against the US dollar on December 17.

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Advertisements
Standard
Forex Market News

USDINR – Ways2Capital

USDINR trading range for the day is 69.81-71.97.Rupee rose on lower crude prices and expectations of fewer U.S. rate hikes in 2019 as markets counted down to a crucial Federal Reserve meeting.

Most of the dollar sales were from banks, though a few exporters were also selling.India’s November trade deficit narrowed to $16.67 billion due to a fall in gold imports, the country’s trade ministry said in a statement.

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Standard
Forex Market News

EURINR – Ways2Capital

EURINR trading range for the day is 79.93-81.57.

Euro remained under pressure as worrisome political and economic news outside the United States drove a strong bid for the safety of the greenback.

EU says it will seek trade deal by end of 2020 to avoid backstop

EU says if Brexit backstop triggered it would be temporary and looks to strengthen wording in summit doc.

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Standard
Forex Market News, Stock Market News

GBPINR – Ways2Capital

GBPINR trading range for the day is 88.91-90.69.

GBP traded in range as British Prime Minister Theresa May rescheduled a delayed vote in parliament on her Brexit plan for mid-January.

UK Government took legal advice on Article 50 extension

PM May: There are no plans for indicative votes on Brexit options

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Standard
Forex Market News, Stock Market News

JPYINR – Ways2Capital

JPYINR trading range for the day is 62.41-63.88.

JPY traded in range as the dollar was fragile as markets speculated growth worries will prompt the Fed to signal a pause to its monetary tightening cycle.

Japanese Finance Minister Taro Aso said Japan will reduce the purchasing tax on cars

Japanese Finance Minister Taro Aso: We will extend housing loan tax exemptions.

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Standard
Forex Market News

Rupee Trades Higher At 71.29 Per Dollar

 

The Indian rupee is trading higher by 26 paise at 71.29 as compared to previous day close of 71.55.

Rupee in the last few sessions consolidated in a wide range of 71.20 and 72.30 ahead of the important FOMC policy statement that will be released tomorrow.

Expectation is that the Fed could consider raising rates by 2bps and a hawkish stance could extend gains for the greenback. On the domestic front, rupee extended its gains after India’s trade deficit narrowed in November.

Data showed trade deficit narrowed to USD 16.67 billion compared to USD 17.13 billion in the previous month following drop in gold imports. India’s gold imports fell 15.59 percent to USD 2.76 billion in November. Today, USD-INR pair is expected to quote in the range of 71.20 and 71.80, it added.

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Standard
Forex Market News

USDINR – Ways2Capital

USDINR trading range for the day is 71.33-72.12.

Rupee gained as strong momentum continued from last week following state election results and the appointment of Shaktikanta Das as the central bank governor.

India’s forex reserves rise from $ 393.72 billion to $ 393.73 billion as on 01st Dec 2018 India trade deficit in November at $ 16.67 billion vs 17.13 billion last month and expectations of 16.08 billion.

For Quick Trial – 8962000225 ✔

or mail us here: info@ways2capital.com

✆ – 0731-2428906 | Toll Free – 1800-3010-2007

Give a Missed Call for Free Trial – 09699997717

Standard