Currency alert for 20 May 2014
USDINR May expiry future last closed at 58.6 with 45 paisa loss. In Intraday MCX-SX Dollar-rupee future hit high at 58.73 while low was 58.45. Total 28-paisa intraday range and closed with loss. For tomorrow, expect some bounce back from oversold zone.
EURINR May future last closed at 80.36 with loss of 56 paisa. In Intraday MCX-SX Euro-rupee future hit high at 80.80 while low was 80.12. Total almost 68-paisa intraday range and closed with loss. Watch 80-rupee level as psychological support for euro.
GBPINR May expiry future last closed at 98.55 with loss of 69 paisa. In intraday MCX-SX Pound-rupee, future hit high at 98.8 while low was at 98.34. Total 44-paisa intraday range and closed with loss. For tomorrow, 97.8 is support level to watch and expect technical bounce back from that level.
JPYINR May expiry future last closed at 57.95 with 30 paisa loss. In intraday MCX-SX Yen-rupee, future hit high at 58.04 while low was at 57.63. Total 41-paisa intraday range and closed with loss. Yen above 57.5 rupee may show short covering rally.