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DAILY FOREX
REPORT
RESEARCH VIA
5/21/2013

2. MARKET HEADLINES
 Rupee near 2-1/2 month low against dollar
The rupee was trading at 55.02/03 versus its close of 54.88/89 on
Friday, tracking weakness in the domestic share market and good
demand of dollar from importers.
Traders said good demand for the US currency from oil importers
and gold firms are weighing on the Indian currency.
Traders, however, expect the pair to face a stiff resistance around 55.15
levels, holding it in a broad range of 54.50 to 55.15 band in the near-
term.
Traders will continue to monitor domestic shares for cues on foreign
fund flows.
 Yuan ends up slightly as PBOC signals further
appreciation
China's yuan closed slightly higher on Monday after the central bank
surprised the market and fixed the official midpoint almost unchanged
despite a rally in the dollar.
Spot yuan ended at 6.1389 against the dollar from 6.1419 at Friday's
close after the People's Bank of China set the yuan's midpoint at
6.1998, almost flat from 6.1997 on Friday.
Barring a reverse in capital inflows, several traders said they now
forecast the yuan to appreciate to 6.0 against the dollar in coming
months compared with 6.2 which they had predicted in early April.
 Sterling falls versus dollar on talk of Federal
Reserve reducing stimulus
Sterling recovered from a six-week low against the dollar on Monday
as the US currency dipped after recent strong gains, but it was still
vulnerable to signs the US central bank may scale back monetary
stimulus.
Sterling was up 0.2 percent at $1.5202, off a low of $1.5158 hit on
Friday when the dollar gained after US Federal Reserve officials called
for the central bank to start tapering bond buying under its
quantitative easing programme.

3. DAILY MARKET STATISTICS
CURRENCY EXPIRY OPEN HIGH LOW CLOSE
EURINR 29-May-2013 70.8000 71.0075 70.7025 70.9850
EURINR 26-Jun-2013 71.1225 71.2800 70.9825 71.2575
EURINR 29-Jul-2013 71.2900 71.5000 71.2900 71.5000
GBPINR 29-May-2013 83.6000 83.9100 83.5200 83.8725
GBPINR 26-Jun-2013 84.0550 84.2200 83.9850 84.2000
JPYINR 29-May-2013 53.5250 53.9050 53.5250 53.8775
JPYINR 26-Jun-2013 53.9000 54.1400 53.9000 54.1200
USDINR 29-May-2013 55.1150 55.2350 55.0325 55.1900
USDINR 26-Jun-2013 55.3000 55.4475 55.2500 55.4025
USDINR 29-Jul-2013 55.6000 55.7050 55.5225 55.6700
RBI REFERENCE RATE
(As on 20TH
MAY 2013)
UNDERLYING RATE
USDINR 55.0368
EURINR 70.6835
GBPINR 83.6064
JPYINR 53.6000

4. USDINR DAILY ANALYSIS
 S1-55.0700
 S2-54.95000
 PP-55.1525
 R1-55.2725
 R2-55.3550
PIVOT POINTS

5. EURINR DAILY ANALYSIS
 S1- 70.9775
 S2-70.9700
 PP-70.9925
 R1-71.0000
 R2-71.0150
PIVOT POINTS

6. GBPINR DAILY ANALYSIS
 S1-83.6250
 S2-83.3775
 PP-83.7675
 R1-84.0150
 R2-84.1575
PIVOT POINTS

7. 54.9950
JPYINR DAILY ANALYSIS
 S1- 53.6333
 S2- 53.3892
 PP-53.7692
 R1- 54.0133
 R2- 54.1492
PIVOT POINTS

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