Friday, August 6, 2010

Forex market update

Dollar/rupee rates in the non-deliverable forwards market were down today tailing the rise in key Asian currencies against the greenback/. Rise in share indices in India also dragged the dollar/rupee NDF rate down. Asian currencies such as the South Korean won rose as local shares were
off lows and also because exporters sold US dollars. The Philippine peso was trading up on hopes of inflows from foreign funds.
Expectations are that US non-farm payrolls, data for which is due to be released today, may decline by 60,000 in July compared with a fall of 125,000 in June. The one-month dollar/rupee NDF rate was at 46.2500 per dollar today compared with 46.3500 Thursday and the local outright rate was at 46.2400 rupees today.

1 comment:

anoop said...

it is good comment but u didn't tell abt the european economy data and fii investment.which ll appreciate the rate of rupee.