Thursday 18 July 2013

Weekly Review

The RBI took measures at curbing volatility in the INR by tightening liquidity and hiking
the interest rate on marginal standing facility by 200 bps.    The government of India in
its effort to shore up the rupee, opened foreign direct investment in 13 sectors, including
100% FDI in telecom.

Ironically, the markets did not cheer the developments.    Today's session in the USD -
INR trade corroborates the pessimism surrounding the INR.    Failure to convincingly
close sub Rs.59 levels vis a vis the USD, indicates weakness for the INR.

1 comment:

  1. Crude Oil March and Brent Oil April series have advanced almost a percent each at $ 54 and $ 56 per barrel, respectively.
    Natural Gas April expiry is quoted at $ 2.720 - up 0.4 percent.
    MCX Crude Oil tips

    ReplyDelete