The rupee extended losses against the dollar to 54.84/85 due to increased dollar demand from oil importers and weak domestic stock prices. Asian stock markets retreated from recent highs and commodities fell as negotiations to avoid a US fiscal crisis became more heated. The rupee opened lower against the dollar, trading at 54.67 due to oil demand and weakness in the euro and yen. Most commodity prices fell over 1% from the previous close. The daily forex report provided analysis on currency pairs and recommended buying on dips.

1. DAILY FOREX REPORT
21ST DECEMBER 2012
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2.  HEADLINES
 Rupee extends losses on oil demand; weak shares
The rupee extended losses to 54.84/85 versus its previous
close of 54.55/56 on the back of dollar demand from oil
firms and also helped by weak domestic shares. A broad
risk-off mood globally also aided the dollar, traders said.
Asian shares retreated from near 17-month highs and
commodities fall as negotiations to avert a US fiscal
crunch turns to personal taunts, putting at risk a timely
solution as well as the health of the world's largest
economy.
 Rupee down 12 paise against dollar in early
trade
 TRADING TIPS
The rupee today fell by 12 paise to trade at 54.67 against
 SELL USD/INR the dollar in early trade at the Interbank Foreign
BELOW 54.90 Exchange, due to increased demand for the American
FOR TGT currency from oil importers. Besides, euro and yen
54.75/54.60 weakness against the dollar overseas and a lower opening
in the equity market also put pressure on the local unit,
SL 55.05
forex dealers said. The rupee had gained 30 paise
 PAST
yesterday to close at 54.55 against the dollar on fresh
PERFORMANCE selling of the American currency by banks.
 SELL USD/INR
BELOW 54.70 REFERENCE RATE
FOR TGT As on 20TH December 2012
54.55/54.40
UNDERLYING RATE
SL 54.85
USDINR 54.8420
UNEXECUTED
EURINR 72.4667
GBPINR 89.1128
JPYINR 65.3100
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3. DAILY MARKET STATISTICS
PRODUCT EXP DATE OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE
NAME CHANGE
Symbol Series/Expiry Unit Open High Low Close Prev. Close
CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61
EURINR 27-Dec-2012 1 EUR 72.5600 72.8450 72.3600 72.7725 72.5925
CHILLI 7/19/2012 5060 5060 5018 5120 5018 -102 -1.99
GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46
EURINR 29-Jan-2013 1 EUR 72.7200 73.0850 72.6300 73.0150 72.8400
JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68
GBPINR 27-Dec-2012 1 GBP 89.1200 89.3875 88.9100 89.3025 89.1025
KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76
GBPINR
PEPPER 29-Jan-2013 42300 GBP 4255589.3625
7/19/2012 1 42250 89.6950
42390 89.2500
42435 89.5975
45 89.4275
0.11
REF SOYA 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2
JPYINR 27-Dec-2012 100 JPY 64.9900 65.5850 64.9100 65.3700 64.8425
SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28
JPYINR 29-Jan-2013 100 JPY 65.4950 65.8475 65.2025 65.6300 65.1225
TURMERIC 7/19/2012 4600 4676 4518 4664 4540 -124 -2.66
USDINR
WHEAT 27-Dec-2012
7/19/2012 1USD 1282 54.8600
1251 1251 55.0175
1246 54.7525
1282 54.9125
36 54.7175
2.89
USDINR 29-Jan-2013 1 USD 55.0900 55.2700 55.0050 55.1775 54.9775
USDINR 26-Feb-2013 1 USD 55.3625 55.5250 55.2750 55.4425 55.2325
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4. DAILY USD/INR CHART
ANALYSIS
OPEN: 54.8900
HIGH: 55.0175
LOW: 54.7550
CLOSE: 54.9125
 USD/INR LOOKS SIDEWAYS
 TREND: CONSOLIDATED
 STRATEGY: BUY ON DIPS
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5. DAILY EUR/INR CHART
ANALYSIS
OPEN: 72.5500
HIGH: 72.8150
LOW: 72.3650
CLOSE: 72.7725
 EUR/INR LOOKS UPWARDS
 TREND: BULLISH
 STRATEGY: BUY ON DIPS
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
12:30pm EUR GfK German Consumer 5.9 5.9
Climate
3:00pm GBP Current Account -14.1B -20.8B
7:00pm USD Core Durable Goods -0.2% 1.8%
Orders m/m
7:00pm USD Core PCE Price Index m/m 0.1% 0.1%
7:00pm USD Durable Goods Orders 0.2% 0.5%
m/m
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