The Indian rupee posted its biggest single-day rise in nearly a week after Reuters reported that India's finance ministry was working on a proposal to cut fiscal deficit, with gains also helped by improving global risk sentiment. The rupee hit a session high of 58.41 per dollar. However, the Reserve Bank of
India was spotted buying dollars through state-run banks after the rupee hit its session high, traders said. That is expected to keep the rupee within a range for now. The partially convertible rupee closed at 58.4675/4775 per dollar, its strongest level since June 18 last year.
Today’s Headlines
1) Yen Falls as China’s Manufacturing Damps Haven Bid
2) Brazil Swap Rates Drop as Personal Income Falls for Second Month
3) Pound Falls First Time in 6 Days after GDP Report, Finance Data
4) Turkish Bonds Gain as Lira Drops on Surprise Interest-Rate Cut
5) Brent Trades Near 11-Week High on China Factory Data
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
India was spotted buying dollars through state-run banks after the rupee hit its session high, traders said. That is expected to keep the rupee within a range for now. The partially convertible rupee closed at 58.4675/4775 per dollar, its strongest level since June 18 last year.
Today’s Headlines
1) Yen Falls as China’s Manufacturing Damps Haven Bid
2) Brazil Swap Rates Drop as Personal Income Falls for Second Month
3) Pound Falls First Time in 6 Days after GDP Report, Finance Data
4) Turkish Bonds Gain as Lira Drops on Surprise Interest-Rate Cut
5) Brent Trades Near 11-Week High on China Factory Data
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf