India Rupee: Fwd premiums off lows tracking rupee's rise in spot

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At 1205 IST Open High Low Previous
Spot rupee per $1 52.7750 53.0300 52.7600 53.0400 52.9700
1-year fwd premium 4.72% 4.81% 4.81% 4.63% 4.88%
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India Rupee: Fwd premiums off lows tracking rupee's rise in spot
MUMBAI--1205 IST--Forward dollar/rupee premiums were off lows as some
banks bought forward dollars given the rupee's strength against the US
currency in the spot market, dealers said.
However, the premiums were trading in a thin range, in tandem with the
domestic unit's movement in the spot market.
Earlier today, the premiums had fallen as some foreign banks, including a
large UK bank, and exporters had received forward rates.
A dealer with a UK bank said the 6-month tenure has been the most
actively traded so far. (Amruta Joshi)
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India Rupee - NDF: Dlr/rupee rates down as greenback slips in spot
.
MUMBAI - Dollar/rupee rates in the offshore non-deliverable forwards market
fell today mirroring the greenback that depreciated against the rupee in the
spot market.
The US currency declined 0.4% against the spot rupee due to heavy sale of
dollars by state-owned banks on behalf of exporters.
Renewed concerns over the Eurozone debt crisis limited the fall in
dollar. The Eurozone concerns resurfaced after the Italian bank UniCredit
Wednesday announced plans to sell shares via a rights issue at a heavily
discounted rate than the current market price. The decision raised fears that
other European banks may face difficulties in raising capital.
In the offshore market, volumes were low as traders chose to remain on
the sidelines due to lack of arbitrage opportunities. Marginal difference
between offshore NDF rates and onshore forward rate across tenures kept
traders away, dealers said.
.
Indicative levels for dollar/rupee NDF and local forward rates:
.
-----NDF------ ----Local rates----
Tenure Latest Wednesday Latest Wednesday
1-month 53.11 53.35 53.04 53.24
3-month 53.76 54.10 53.57 53.79
6-month 54.46 54.79 54.29 54.51
1-year 55.56 55.90 55.27 55.50
Closing dollar/rupee NDF rates in Singapore (Gayatri Thakore)
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India Rupee - F&O: Dollar/rupee rates sharply down tracking spot
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At 1040 IST Open High Low Previous
Spot dollar/rupee 52.8100 53.0300 53.0400 52.7300 52.9700
1-mo futures on NSE 53.0550 53.2650 53.3000 52.9625 53.3075
1-mo futures on MCX 53.0575 53.3500 53.3500 52.9625 53.3000
1-mo futures on USE 53.0500 53.2600 53.2625 52.9675 53.2900
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MUMBAI--1040 IST--Dollar/rupee rates in futures market fell sharply
tracking the dollar's weakness against the rupee in the spot market.
The dollar fell, even as risk appetite weakened worldwide, because of
heavy sale of dollars by domestic exporters. However the dollar/rupee pair
has since remained in a thin band of 52.7800-52.8300, failing to offer fresh
cues to the futures market.
In the futures market, volume across tenures rose sharply, while open
interest remained largely unchanged.
On NSE, the January call and put options were the most active at strike
price 53.0000 rupees a dollar.
.
Volume, Open interest
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Jan futures at 1040 IST NSE USE MCX-SX
Volume 430,695 7,783 424,758
Open Interest 1,270,598 17,410 --
.
NSE: National Stock Exchange
USE: United Stock Exchange
(Gayatri Thakore)
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India Rupee: Up as dollar sales by exporters offset dollar demand
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At 0945 IST Open High Low Previous
Spot rupee per $1 52.7725 53.0300 52.7600 53.0400 52.9700
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MUMBAI--0945 IST--The rupee strengthened against the greenback as dollar
sales by state-owned banks on behalf of exporters offset demand from other
market players, dealers said.
The rupee had opened slightly down because of low risk appetite as renewed
concerns over the Eurozone debt crisis prompted banks to place sell orders.
The euro and other risk-sensitive currencies worldwide weakened on concern
over European banks' ability to raise capital after Italian bank UniCredit
priced its rights issue at over 60% discount to Tuesday's closing price.
Back home, dealers said currency players may wait for the European markets
to open for further direction on the rupee. Investors are also eyeing the
outcome of the French bond auction later in the day.
Intraday, the Indian currency may face strong resistance at 52.7000 a dollar
as oil importers are likely to purchase dollars noting the lower levels of
the currency pair, dealers said.
Volume in the currency market is expected to improve slightly.
"Volumes may be slightly better than last few days but they will still be
low," said a dealer with a private bank. "The volume that was missing because
of the year-end might come back into the market."
The Indian currency is expected to move in the 52.7000-53.2000 rupees a
dollar range during the day.
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India Rupee: Technical levels for dollar/rupee - Jan 5
MUMBAI - Following are the key support and resistance levels for
dollar/rupee for today, as predicted by leading banks:
.
S1 S2 R1 R2
.
Syndicate Bank 52.80 -- 53.20 --
Mumbai-based PSU Bank 52.85 -- 53.10 --
IndusInd Bank 52.92 52.82 53.08 53.22
Large PSU Bank 52.80 -- 53.20 --
Private bank 52.90 -- 53.20 --
.
Notes: S1 = 1st Support, S2 = 2nd support, R1 = 1st resistance, R2 = 2nd
resistance
Names of some banks have been withheld as desired.

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India Rupee - Asia FX: Most units down; Taiwanese dollar tad up
MUMBAI - Most Asian currencies weakened against the greenback today as the
overnight fall in the euro due to lingering concerns over the Eurozone debt
crisis prompted traders to buy the US currency.
Risk appetite across the globe was hurt Wednesday on concern European banks
may face difficulties in raising capital.
These fears stemmed from Italian bank UniCredit's decision to launch a
rights issue at an over 60% discount to Tuesday's closing price.
Reports that Spain may seek a loan from the European Union and the
International Monetary Fund also weighed on the mood.
Indonesian rupiah, and the Malaysian ringgit, however, recouped some losses
as local banks sold the US currency on expectation of inflows from foreign
institutional investors into the local equities.
While most Asian currencies fell, only the Taiwanese dollar gained
marginally owing to dollar sales by exporters in run up to the Lunar New Year.
.
Current rates of key Asian currencies versus US dollar in Asian trade:
.
ASIAN CURRENCY AT 0825 IST PREVIOUS CHANGE IN %
VS US DOLLAR
.
South Korean won 1149.85 1148.60 (-)0.11
Philippine peso 43.9100 43.7500 (-)0.36
Indonesian rupiah 9162.50 9140.00 (-)0.24
Malaysian ringgit 3.1411 3.1350 (-)0.19
Taiwanese dollar 30.2840 30.2900 0.02
Thailand baht 31.5500 31.4900 (-)0.19
Chinese yuan 6.3024 6.2946 (-)0.12