Market Outlook The rupee on Wednesday opened 6 paise up at 64.96 against the dollar on account of selling of American currency by banks and exporters. The local currency yesterday tumbled by 28 paise to close at 65.02 a dollar. The dollar strengthened to a one-week high against a basket of major currencies on Tuesday,[…]
Market Outlook The rupee on Tuesday opened 3 paise down at 64.16 against dollar on account of buying of American currency by banks and importers. The dollar hovered near an eight-week high against the yen on Tuesday, supported as US Treasury yields continued their sharp rebound from 10-month lows. The dollar stood little changed at[…]
Market Outlook After a brief overnight pause, the rupee was again caught in a downward spiral and slipped by 12 paise to 64.12 against the US dollar today on fresh demand for the American currency from banks and importers amid persistent foreign capital outflows. The dollar consolidated gains on Thursday, a day after posting its[…]
Market Outlook The rupee on Wednesday opened 5 paise up at 63.99 against dollar on account of selling of American currency by banks and exporters. The dollar was buoyant against the yen on Wednesday, although it was capped against the euro with a potentially supportive spike in US yields neutralised by a similar move by[…]
Market Outlook The Rupee on Tuesday opened 5 paise down at 63.98 against dollar on account of selling of American currency by banks and exporters. The central bank’s US dollar purchases in the forward market hit a three-year high of $9.4 billion last month as the regulator sought to cushion the impact of a surge[…]
What Is Forex? The foreign exchange is a place where currencies are traded. Currencies are very important every people of the world, because currencies required to be exchanged in order to conduct business and foreign trade. Currency trading is conducted electronically over-the-counter, that means all transactions perform via online trading software around the world. The[…]
GBPINR on its daily charts closed around the trend line acting as support and is expected to extend the weak trend if it holds below the level of 95.2000.
GBPINR on its daily charts sustained on lower side and lower consolidation on intraday charts also suggests selling pressure below the level of 95.6700.
EURINR on its daily charts had closed below after the previous day hike and so selling pressure may continue if it sustains below the level of 75.0500.
GBPINR on its daily charts took strong reversals from support and closed strongly above, hence buying momentum may continue above the level of 96.0000.
USDINR on its intraday charts consolidates on higher level, expected to give positive breakout above 67.6000 and may find next resistance around 67.8000.
JPYINR on its daily charts had closed near the immediate support and so selling pressure can be seen if it holds below the level of 59.1500.