19th July: Indian rupee report for exporters & Importers

Insignia Consultants

New Delhi

www.insigniaconsultants.in

 

Thursday, July 19, 2012

 

 TIME 07:57 PM IST                          

 

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INDIAN RUPEE REPORT FOR EXPORTERS AND IMPORTERS

 

	LAST	MA 10	MA 18	MA 21	MA 40	MA 50
INR CROSS
US DOLLAR	55.18	55.37	55.50	55.69	55.65	55.45
EUR	67.79	67.94	68.73	69.08	69.39	69.43
POUND	86.35	86.19	86.52	86.81	86.67	86.68
AUSTRALIAN	57.18	56.76	56.74	56.78	55.98	55.58
YEN	0.70	0.70	0.70	0.70	0.70	0.70
SWISS	56.44	56.56	57.21	57.51	57.76	57.79
UAE	15.02	15.08	15.11	15.16	15.16	15.10
HONG KONG	7.11	7.14	7.16	7.18	7.18	7.15
CANADIAN	54.63	54.50	54.54	54.65	54.40	54.29

 

Today is the voting on the Indian president elections. There is huge hope that new measures will be announced so that the Indian economy gets boosted. If no new major measures are announced then rupee could weaken to 57.00 and 58.00 against the US dollar over the coming weeks. There is severe drought like conditions in most parts of Indian (except North east India) which will add pressure in inflation and also affect rural demand. So reforms will be the key.

 

USD/INR

Technically rupee can rise to 55.80 and 56.25 as long as it trades over 55.05. Exporters should use a stop loss of 54.50 for their near term receivables while importers should use a stop loss of 56.30 for their near term payables.

 

EURO/INR

 

67.60 is the key resistance and a break of the same will result in 68.20-69.10. We expect euro-rupee to trade in 66.90-67.70 wider range today. Euro importers should use a stop loss of 68.10 for their near term payables while euro exporters use a stop loss of 66.58 for their near term receivables.

 

	LTP	% CHG	3 mth %
INDIAN RUPEE FORWARDS
1 MTH	35.00	0	-4.11
2 MTH	67.25	0	-3.24
3 MTH	98.50	0	-2.96
6 MTH	179.25	0	-6.03
9 MTH	253.25	0	-4.25
12 MTH	319.25	0	-3.04

 

Near term forward premiums should rise while far dated forward premiums should fall. We prefer buying two months forward and selling nine month forward.

 

Please Note

This is the tenth year in progress for Insignia consultants. Insignia consultants was formed in 2003 mainly as a foreign exchange advisory firm and moved into commodities analysis in the same year forced by some close friends in bullion trade. Thanks for your support.

 

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice.

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

ALL PRICES IN INDIAN RUPEES UNLESS OTHERWISE SPECIFIED

 

 

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