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DAILY FOREX REPORT RESEARCH VIA 3/5/2013

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9977785000

MARKET HEADLINES

ďƒ˜ Rupee falls on short-covering; oil demand seen The rupee fell to 53.85/86 from its previous close of 53.80/81 on the back of some short-covering by state-run banks while dollar demand from oil firms also helped.

The euro slipped against the dollar in anticipation of the European Central Bank cutting interest rates in an attempt to support a flagging economy.

Dealers say the market is sitting short on dollar ahead of the anticipated rate cut on Friday and when the rupee rose to a two-month low of 53.6625, some short covering was triggered.

ďƒ˜ Swiss franc falls against dollar after five days of gains The Swiss franc slipped lower against the dollar on Thursday, pulling back from a two-week high against the greenback after five consecutive sessions of gains driven by a stream of weak economic data from the United States.

The franc fell 0.2 per cent against the dollar compared to the New York close, trading at 0.9288 francs per dollar at 0637 GMT. The franc was stable against the euro at 1.2222 per euro.

ďƒ˜ Yuan hits another record high, traders increasingly mystified China's yuan hit another record high versus the dollar on Thursday after the central bank fixed its midpoint at a fresh all-time high, maintaining a trend that began in April, even as signs emerge that China's economy is running into headwinds.

Spot yuan was trading at 6.1537 against the dollar at midday, the currency's highest level since China established the domestic foreign exchange market in 1994.

DAILY MARKET STATISTICS CURRENCY

EXPIRY

OPEN

HIGH

LOW

CLOSE

EURINR

29-May-2013

71.0325

71.2675

70.4900

70.5450

EURINR

26-Jun-2013

71.3750

71.5800

70.8200

70.8550

EURINR

29-Jul-2013

71.2700

71.2700

71.1375

71.1375

GBPINR

29-May-2013

84.1000

84.3400

83.4175

83.4725

GBPINR

26-Jun-2013

84.4500

84.6000

83.8075

83.8650

JPYINR

29-May-2013

55.5900

55.7125

55.3025

55.3675

JPYINR

26-Jun-2013

55.7850

56.0000

55.6050

55.6450

USDINR

29-May-2013

54.3775

54.4300

53.9225

53.9475

USDINR

26-Jun-2013

54.8400

54.8400

54.1900

54.2075

USDINR

29-Jul-2013

54.9300

54.9650

54.4900

54.5000

RBI REFERENCE RATE (As on 2ND MAY 2013) UNDERLYING

RATE

USDINR

53.7355

EURINR

70.7155

GBPINR

83.5426

JPYINR

5.2400

USDINR DAILY ANALYSIS

PIVOT POINTS  S1-53.7717  S2-53.5958  PP-54.1008  R1-54.2767  R2-54.6058

EURINR DAILY ANALYSIS

PIVOT POINTS  S1- 70.2708  S2-69.9967  PP-70.7692  R1-71.0433  R2-71.5417

GBPINR DAILY ANALYSIS

PIVOT POINTS

 S1- 83.1467  S2-82.8208  PP-83.7433  R1-84.0692  R2-84.6658

54.9950

JPYINR DAILY ANALYSIS

PIVOT POINTS

 S1- 55.2108  S2- 55.0542  PP-55.4592  R1- 55.6258  R2- 56.8642

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