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2. HEADLINES
Indian Rupee slightly lower on short-covering,
oil demand
Indian Rupee continues to trade stronger on the day at
54.42/43 versus its previous close of 54.35/36 as some
investors cover short dollar positions after the recent fall
in the pair. Dollar buying from oil refiners is also aiding
the pair. Mild loss in domestic shares and broad optimism
on expectations of a rate cut later this month are keeping
sentiment for the dollar subdued, limiting a very sharp
rise. Domestic shares are trading up 0.2 per cent.
Rupee falls by 10 paise against dollar in early
trade
TRADING TIPS
The rupee depreciated by 10 paise to 54.45 against the US
SELL USD/INR dollar in early trade today on the Interbank Foreign
BELOW 54.70 Exchange due to appreciation of the American currency
FOR TGT against the euro and other currencies in overseas markets.
54.55/54.40 Dealers attributed the rupee's fall to dollar gains against
the euro overseas and sustained demand for the American
SL 54.85
currency from importers.
PAST
PERFORMANCE REFERENCE RATE
SELL EUR/INR As on 3RD January 2013
BELOW 72.20
FOR TGT UNDERLYING RATE
72.05/71.90 USDINR 54.4153
SL 72.35 EURINR 71.4945
UNEXECUTED GBPINR 88.2888
JPYINR 62.3600
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
12:30am USD FOMC Meeting Minutes
7:00pm USD Non-Farm Employment 135K 146K
Change
7:00pm USD Unemployment Rate 7.7% 7.7%
8:30pm USD ISM Non-Manufacturing 54.3 54.7
PMI
9:30pm USD Crude Oil Inventories -1.6M -1.0M
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