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2. HEADLINES
Rupee hits 3-week low; ends at 55.06 against
dollar
The Indian rupee hit a three-week low on Friday,
extending its fall for a third straight week, as
uncertainty over the US "fiscal cliff" resolution dented
demand for risk assets including domestic equities.
Traders said month- and year-end dollar demand from
oil and gold importers also added to the downward
pressure on the local currency. Oil firms bought the
greenback aggressively this week while gold importers
purchased the US unit to take advantage of relatively
RBI REFERENCE RATE lower global gold prices.
Euro falls, yen rises as Boehner drops 'fiscal
As on 21stDECEMBER 2012
cliff' plan
The euro fell against the dollar on Friday as Republican
House Speaker John Boehner abandoned his bill to
UNDERLYING RATE
avoid the "fiscal cliff", conceding there weren't enough
USDINR 55.0860 votes for it in the chamber.House Republicans' refusal
to support the bill was seen a rebuke for the speaker
EURINR 72.7730
who passed the initiative back to President Barack
GBPINR 89.5368 Obama.
JPYINR 65.5000 Forex reserves jump by $1.64bn to $296.63bn
The foreign exchange reserves rose by a robust USD
1.637 billion to touch USD 296.63 billion during the
week ended December 14 on the back of healthy
addition of core currency assets, the Reserve Bank said
today.
The total reserves stood at USD 294.99 billion in the
previous reporting week. Foreign currency assets, a
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major component of the forex reserves, were up by
6. FOREX FORTHCOMING EVENTS
DAY TIME CURRENCY DETAILS ACTUAL FORECAST PREVIOUS
THURSDAY 7:00 PM USD Unemployment Claims 365K 361K
THURSDAY 8:30pm USD CB Consumer Confidence 70.3 73.7
THURSDAY 8:30pm USD New Home Sales 382K 368K
FRIDAY 8:30pm USD Pending Home Sales m/m -0.3% 5.2%
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