1. S
DAILY FOREX REPORT
30TH JANUARY 2013
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2. HEADLINES
Rupee gains 25 paise against dollar as RBI cuts
rates
The Indian currency today gained 25 paise against the US
dollar after the Reserve Bank of India cut key policy rates
by 25 basis points. Rupee opened at 53.95 and appreciated
to 53.70 levels. About half of the 10 economists polled by
ET on Friday had forecasted a 25-bps cut in repo rate. A
basis point is 0.01 percentage point. The Reserve Bank of
India reduced repo rate or the rate at which RBI lends to
banks by 25 basis points from 8% to 7.75%. The reverse
repo rate, determined with a spread of 100 basis points
below the repo rate, is kept at 6.75%.RBI has reduced cash
TRADING TIPS reserve ratio by 25 basis points, thereby, releasing around
Rs 18,000 crore of liquidity into the banking system. RBI
SELL USD/INR
has reduced the cash reserve ratio from 4.25% to 4%. This
ABOVE 54.00 will be effective from the fortnight beginning February 9,
FOR TGT 2013.
53.85/53.3070
SL 54.20 REFERENCE RATE
PAST As on 29th January 2013
PERFORMANCE
BUY USD/INR UNDERLYING RATE
USDINR 53.7015
ABOVE 54.00
EURINR 72.2115
FOR TGT
54.15/54.30 GBPINR 84.3543
SL 53.80 JPYINR 59.1700
UNEXECUTED
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
6:45pm USD ADP Non-Farm 164K 215K
Employment Change
7:00pm USD Advance GDP q/q 1.1% 3.1%
9:00pm USD Crude Oil Inventories 2.9M 2.8M
11:30pm EUR German Buba President
Weidmann Speaks
9:00pm USD Crude Oil Inventories -1.6M -1.0M
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