INSUBCONTINENT EXCLUSIVE:
single-biggest fall in more than two months, the rupee plunged by as much as 76 paise against the US dollar on Thursday, June 17, to settle
It witnessed a low of 74.08 against the dollar
In an early trade session, the rupee slumped 33 paise to 73.65 against the greenback
single-biggest fall in more than two months
risk-on sentiment was seen disappearing as demand for safest security- US treasuries jumped and yield rose to 1.58 per cent
On the back of this, US equities corrected by 0.70 per cent-0.80 per cent and currently Asian markets are trading lower by the same.''The
recently released RBI's monthly bulletin has confirmed that central bank is offloading their forwards, encashing into cash and buying in
Overall, the rupee is likely to take a further hit from both the central bank's actions
The short-term range for the USDINR revises upward to 73.20-74.50.''Mr
Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors:''The rupee opened weak at 73.65 as FED gave an indication of an early
The rupee remained weak for the entire day and closed at 74.08 against overnight closure of 73.32 as importers bought dollars in panic and
short-covering by sellers as stop loss was hit.The Rupee lost 76 paise during the day and was still in a depreciation mode in the overseas
As most Asian currencies lost against the dollar and even the European currencies were down and the dollar index crossed 91.50 levels
targeting 93.50 which will be a three month high.With FED turning hawkish for the first time in a year rupee looks vulnerable and can touch
It is yet to be seen whether RBI will be a mute spectator with $ 605 billion reserves or will actively curb the depreciation to control
Reserve released its policy statement, wherein it held rates unchanged but turned a little hawkish in its commentary
The Federal Reserve Chairman said that there had also been initial discussions about when to pull back on the Fed's $120 billion in
monthly bond purchases, a conversation that would be completed in coming months as the economy continues to heal.From the US, Philly fed
manufacturing and weekly unemployment claims and better-than-expected economic data could further strengthen the dollar
domestic equity market front, the BSE Sensex ended 178.65 points or 0.34 per cent lower at 52,323.33, while the broader NSE Nifty declined
76.15 points or 0.48 per cent to 15,691.40
in the market yesterday, but today the market was neutral at the level of 15550/51700....Today, technology stocks and Reliance gave strong
Research at Kotak Securities.''The Nifty/Sensex could reach fresh levels on Friday if the indices don't close below the levels of
On an immediate basis, 15770/52500 and 15850/52700 levels would be major hurdles
Below the levels of 15550/51700, the Nifty/Sensex would gradually fall to 15400/51300 or in the worst-case scenario 15300/51000,'' added Mr
offloaded shares worth Rs 870.29 crore
Brent crude futures, the global oil benchmark, rose 0.12 per cent to $74.48 per barrel.
