Forex tips: In line with the equity market, rupee trimmed its initial gains, but was still quoted higher by 2 paise at 64.15 against the US dollar on uneven demand and supply transactions. The rupee resumed lower at 64.20 per dollar against the yesterday's closing level of 64.17 at the Interbank Foreign Exchange (Forex) Market, but immediately recovered to 64.05 on the back of firm equity market. However, it failed to maintain its gains and was quoted at 64.15 per dollar due to sudden fall in the equity market. It hovered in a range of 64.05 and 64.2175 during the morning trade. The benchmark BSE Sensex was trading around 40 points down after opening higher by around 350 points on heavy selling at 1100 hrs, mainly on profit-booking.
Sterling retreats from 5-month highs, euro ekes out gains
Sterling retreated from a five-month high on Wednesday after the governor of the Bank of England said recent currency strength would affect monetary policy and the central bank lowered its growth forecasts for Britain in a quarterly report. The BoE expects growth this year to come in at 2.5 percent, it said in its quarterly Inflation Report, down from a 2.9 percent projection in February and closer to what most other economic forecasters expect. The pound fell to a low of $1.5635, down 0.1 percent on the day, and moving away from a five-month high of $1.5749 struck earlier.
Written by Unknown
We are Creative Blogger Theme Wavers which provides user friendly, effective and easy to use themes. Each support has free and providing HD support screen casting.
0 comments:
Post a Comment