DAILY FOREX REPORT

RESEARCH VIA
5/22/2013

www.researchvia.com

9977785000

MARKET HEADLINES

Rupee falls to near 6-month low on stock losses, importer demand

The rupee dropped to its lowest in nearly six months on Tuesday, dragged by late falls in local shares and import-related demand from a large private company. The rupee has fallen 2.9 percent so far this month against the dollar, despite strong foreign inflows into debt and stock markets as the dollar gains against global currencies on worries about whether the U.S. monetary stimulus will continue. The partially convertible rupee fell for a third straight session to close at 55.41/42 per dollar compared with Monday's close of 55.10/11. The rupee dropped to as much as 55.42, its lowest since Nov. 29.

Sterling falls, UK gilts rise after inflation data

Sterling fell and gilts rose on Wednesday after Britain's April inflation rate undershot expectations. Sterling fell to $1.5184 from $1.5212 as the data was perceived by traders as giving incoming Bank of England chief Mark Carney more room to ease monetary policy later in the year. The euro rose to 84.675 from 84.58 pence. British June government bond futures extended gains by almost 20 ticks to hit a session high of 117.79 after the data, and at 0832 GMT were trading 9 ticks up on the day at 117.69.

Swiss franc steadies above recent lows as dollar loses steam

The Swiss franc was little changed against the euro and dollar on Tuesday, as the greenback inched up against major currencies on suspense Federal Reserve Chairman Ben Bernanke will reveal timings for any reduction in bond-buying stimulus. safe-haven currency. The franc was virtually unchanged against the dollar to trade at 0.9695 by 0735 GMT compared to the New York close. The franc was flat against the euro at 1.2458.

DAILY MARKET STATISTICS

CURRENCY
EURINR EURINR EURINR GBPINR GBPINR JPYINR JPYINR USDINR USDINR USDINR

EXPIRY
29-May-2013 26-Jun-2013 29-Jul-2013 29-May-2013 26-Jun-2013 29-May-2013 26-Jun-2013 29-May-2013 26-Jun-2013 29-Jul-2013

OPEN
71.0025 71.2725 71.5625 84.0000 84.3150 53.8725 54.0450 55.0800 55.3000 55.5550

HIGH
71.3375 71.5900 71.8475 84.0900 84.4025 54.0600 54.2950 55.5275 55.7300 55.9900

LOW
70.8000 71.1175 71.5025 83.6900 84.0100 53.7075 53.9600 55.0225 55.2450 55.5225

CLOSE
71.2775 71.5450 71.8425 84.0075 84.3325 54.0275 54.2675 55.4675 55.6875 55.9475

RBI REFERENCE RATE (As on 21ST MAY 2013)

UNDERLYING USDINR EURINR GBPINR JPYINR RATE 55.0395 70.9269 83.9517 53.6700

USDINR DAILY ANALYSIS

PIVOT POINTS
S1-55.1533 S2-54.8392 PP-55.3367 R1-55.6508 R2-55.8342

EURINR DAILY ANALYSIS

PIVOT POINTS S1- 70.9775 S2-70.6775 PP-71.1575 R1-71.4575 R2-71.6375

GBPINR DAILY ANALYSIS

PIVOT POINTS

S1-83.7692 S2-83.5308 PP-83.9283 R1-84.1667 R2-84.3258

54.9950

JPYINR DAILY ANALYSIS

PIVOT POINTS

S1- 53.8033 S2- 53.5792 PP-53.9317 R1- 54.1558 R2- 54.2842

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