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You can see the latest forex market movement trends updated frequently during forex trading hours. International Forex Market Trends and Market Analysis Report are provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.

International Forex Market Rates for USD, Euro and GBP provided below was last updated on Oct 09 ~ 10:00 - Indian Standard Time

Trend Indicators against INR

"The Indian rupee opened at 83.92/83.93 against U.S.Dollar due to drop in oil prices and decline in USD against Asian currencies also weighed on USD/INR. USD/INR range for the day is 83.80 to 84.00 and for this month is 83.50 to 84.20. "

The Indian Rupee closed nearly unchanged at 83.96/83.97 against its previous close of 83.97/83.98, as the central bank's steps to support the currency helped offset a host of negative cues such as a rise in U.S Bond yields, elevated oil prices and outflows from local equities.

"Chinese shares fell on Wednesday and commodities nursed sharp losses as investors tempered enthusiasm for a Chinese economic recovery, while broader markets steadied on expectations that the U.S. economy can avoid recession and support global demand. U.S. equity futures were broadly steady in Asia, following solid gains in cash trade overnight as a handful of Federal Reserve officials sounded positive about the prospects of managing interest rate levels for a soft economic landing. Influential New York Fed President John Williams told the Financial Times that last week's unexpectedly strong jobs report for September showed the economy was healthy, while falling inflation left room for rates to be lowered over time. Traders had dialled back expectations the Fed could again cut rates by 50 bps in November and currently price about an 88% chance of a 25 bp cut. Treasuries steadied overnight following recent selling, leaving U.S. two-year yields at 3.96% and 10-year yields at 4.01%. The U.S. dollar has drawn support from higher yields and inched up to trade at $1.0968 per euro and held steady at 148.25 yen. The Australian dollar was marginally weaker at $0.6738 and traders assessed the Reserve Bank of New Zealand as preparing for further cuts ahead. Minutes from the Federal Reserve's September meeting - where U.S. rates were cut 50 bps - are due later in the session, along with appearances from the Fed's Raphael Bostic, Lorie Logan and Mary Daly. "

FACTORS AGAINST RUPEE :

Note :This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his / her own risks and no obligation arises to TMB or any of its officials. All such trading involves risks.

Exchange Rates Information last updated in part or full on Wednesday, October 09,2024 - 10:00 AM (IST) for ready transactions. All quotations are per unit of Foreign Currency except Japanese Yen, which is quoted for 100 Units

The currency rates given herein are only for reference and convenience. The bank has taken due care and caution in compilation of data given herein. The bank however does not guarantee the accuracy, adequacy or completeness of the data and is not responsible for any errors or omissions or for the results obtained from use of such information / data. The bank has no financial liability whatsoever to any user on account of the use of information / data provided in this page.