View on Currency....

1. Currency Dose
14th October, 2011
USDINR:
The dollar appreciated by 0.36 percent against rupee. The rupee lost all its gain after
volatile domestic market and inflation figures of India being negative. Due to rupee
weakness import costs has risen. India's fuel price index rose 15.10 percent in the
year to Oct. 1, higher than the previous week's rise of 14.69 percent. Wholesale
price index probably rose 9.70 percent in September from a year earlier, easing
slightly from 9.78 percent in August, a reuters poll showed. The monthly inflation
data due today is now very important.
EURINR:
The Euro traded almost flat in a choppy market after volatile domestic equity market
and the euro retreated after the European Central Bank's warning that government
bond write downs could hurt the common currency. The Germany Price Index year
to year and month to month came as per expectations of 2.6% and 0.1%
respectively.
GBPINR:
The Pound traded flat in a choppy market. The UK Trade Balance fell less-than-
expected to -7.8B in August from -8.15B in the preceding month and analyst
expected -8.8B.
S&P downgraded Spain from Aa rating to Aa- rating with negative outlook.
JPYINR:
The Japanese Yen traded flat after volatile domestic equity market and weak
inflationary data from India. Japan’s Domestic Corporate Goods Price Index year to
year was as per expectations of 2.5% and Money Supply was as per expectations of
2.7%.
Currency Levels
Currency S2 S1 Prev. Close R1 R2 Trend
USDINR 48.80 49.05 49.2475 49.40 49.60 Buy on dips…
EURINR 67.20 67.50 67.5350 67.85 68.10 Buy on dips…
GBPINR 76.90 77.20 77.25 77.70 78.10 Sell on rise…
JPYINR 63.30 63.65 64.0550 64.15 64.60 Sell on rise…
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2. Currency Dose
14th October, 2011
Report by: -
Sumeet Bagadia (Head - Commodity & Currency Research) sumeet.bagadia@destimoney.com
Mohit Kothari (Research Associate) mohit.kothari@destimoney.com
For private circulation only Website: www.destimoney.com
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