Forex News of 15th January 2015

Rupee jumps 46 paise against dollar in early trade

The rupee soared by 46 paise to trade at a fresh one-month high of 61.72 against the dollar in early trade today at the Interbank Foreign Exchange after the RBI cut interest rates by 25 basis points to 7.75 percent.

Forex dealers said besides a higher opening in the domestic equity market and dollar's weakness against other Asian currencies also supported the rupee.

The rupee had ended four paise lower at 62.18 on fresh dollar demand from banks and importers in yesterday's trade in view of fall in crude oil prices. Meanwhile, the benchmark BSE Sensex zoomed by 600.77 points, or 2.19 percent, to 27,947.59 in opening trade today.

Forex Call

I FOREX: BUY EURUSD ABOVE 1.1760 TGTS 1.1780/1.1810 SL 1.1740 

I FOREX: EURUSD HIT 1ST TGT 1.1780