2. HEADLINES
Rupee appreciates as custodian banks sell
dollars
Rupee appreciated to 54.65/66 versus its previous close of
54.7550/7650 due to dollar selling by custodian banks,
traders say. Despite stocks being down 0.15 per cent,
custodian banks have been selling dollars since early
trade, three dealers say, suggesting domestic funds are
likely on the sell-side on the last day of 2012. Traders
expect the pair to hold in a 54.55 to 55.90 range during the
session,
USD/INR wedged in thin band on last day of 2012
USD/INR continues to trade marginally higher at
54.78/79 versus its previous close of 54.7550/7660 as
TRADING TIPS mild dollar demand from oil refiners at month-end gets
BUY USD/INR offset by dollar sales by exporters. The pair has been
wedged in a narrow 54.75 to 54.81 band so far in the
ABOVE 55.15
session. Trading is also dull on the last day of 2012 as
FOR TGT most Asian and western European markets are either
55.30/55.45 closed or will be closing early for the day. Traders to await
SL 55.00 resolution of the US fiscal cliff for near-term direction
PAST while domestically the September quarter current account
PERFORMANCE deficit data due at 1130 GMT will be watched.
SELL USD/INR REFERENCE RATE
BELOW 55.10
As on 31ST December 2012
FOR TGT 54.95
SL 55.25 UNDERLYING RATE
TARGET ACHIEVED USDINR 54.7773
EURINR 72.2605
GBPINR 88.5092
JPYINR 63.6600
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
All Day EUR German Bank Holiday
All Day EUR Italian Bank Holiday
All Day GBP Bank Holiday
All Day USD Bank Holiday
9:30pm USD Crude Oil Inventories -1.6M -1.0M
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