2. HEADLINES
Rupee down for second day on short-covering
Traders say short-covering in the dollar seen on the back
of losses in regional equity markets, but exporters are
expected to step up sales at higher levels, holding the pair
in a 54.65 to 54.95 range. Asian shares fall tracking
overnight weakness in global equities after senior Federal
Reserve officials express concerns about continuing to
expand simulative bond buying. Traders will also watch
domestic share market moves for cues on foreign fund
flows. Shares trading down 0.1 percent in early trade.
Rupee down 33 paise Vs dollar in early trade
TRADING TIPS The rupee today weakened by 33 paise to 54.83 against
the dollar in early trade at the Interbank Foreign
BUY EUR/INR Exchange market due to increased demand for the US
ABOVE 71.97 currency from importers amid firm global cues. Forex
FOR TGT dealers said besides dollar's gains against euro and yen
72.12/72.27 overseas, increased demand from oil importers for the
American currency and a weak opening in the stock
SL 71.82
market also put pressure on the rupee. The rupee had lost
PAST
15 paise to close at 54.50 against the US dollar yesterday.
PERFORMANCE
SELL USD/INR REFERENCE RATE
BELOW 54.70 As on 4THJanuary 2013
FOR TGT
54.55/54.40 UNDERLYING RATE
USDINR 54.8458
SL 54.85
UNEXECUTED EURINR 71.5405
GBPINR 88.1646
JPYINR 62.5000
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6. FOREX FORTHCOMING DATA
TIME CURRENCY DATA ACTUAL FORECAST PREVIOUS
1:30pm CHF Foreign Currency Reserves 427.4B
3:00pm EUR Sentix Investor Confidence -16.8
3:30pm EUR PPI m/m 0.1%
8:30pm CAD Ivey PMI 47.5
9:30pm USD Crude Oil Inventories -1.6M -1.0M
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