Indian currency market tips 23 May 2014
USDINR May expiry future last closed at 58.35 with 54 paisa loss. In Intraday MCX-SX Dollar-rupee future hit high at 58.8 while low was 58.34. Total 46-paisa intraday range and closed with loss. For now on follow buy and accumulate view for US dollar and expect bounce back.
EURINR May future last closed at 79.77 with loss of 77 paisa. In Intraday MCX-SX Euro-rupee future hit high at 80.37 while low was 79.79. Total almost 58-paisa intraday range and closed with loss. Euro below 80 rupee can slips up to 78 to 77 levels.
GBPINR May expiry future last closed at 98.45 with loss of 1.05 rupee. In intraday MCX-SX Pound-rupee, future hit high at 99.27 while low was at 98.43. Total 84-paisa intraday range and closed with loss. English pound below 98 rupee may slip up to 93 to 92-rupee levels.
JPYINR May expiry future last closed at 57.46 with 81 paisa loss. In intraday MCX-SX Yen-rupee, future hit high at 57.9 while low was at 57.44. Total 46-paisa intraday range and closed with loss. Traders above 57 keep buy and accumulate view and expect technical bounce back ahead.