India Rupee in Biggest Weekly Rally since September as BJP Leads!

The Indian rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results. Hopes that the Bharatiya Janata Party and its allies will win an outright majority have helped fuel gains in shares, given the perceptions that the opposition party is more business and reform friendly. The partially convertible rupee closed at 59.29/30 per dollar, after hitting 59.10, its strongest level since July 29 and higher from its Tuesday's close of 59.66/67. The rupee rose 0.6 percent for the day, its biggest single-day gain since April 25.

Today’s Headlines

1) India Rupee in Biggest Weekly Rally since September as BJP Leads
2) Euro Drops as Peripheral Bonds Fall Amid Economic Pace Concern
3) Chile Keeps Rates on Hold as Prices Rise Fastest in Five Years
4) Mexico’s Peso Rises as U.S. Housing Data Boosts Economic Outlook

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

Euro Falls to Two-Month Low versus Yen on ECB Bets

The Indian rupee rose on Tuesday to its strongest close against the dollar in nearly 10 months as shares surged to record highs after exit polls showed opposition Bharatiya Janata Party and its allies clinching a majority in the country's elections. Markets have been already pricing in a win by the BJP, hoping that the coalition led by Narendra Modi would revive an economy growing at its slowest pace in a decade and attract more foreign investment. J.P.Morgan estimates that RBI interventions since February have totaled nearly $20 billion, with an estimated $4.1 billion in dollar purchases since the start of May, according to a note on Tuesday.

 

Today’s Headlines

1) Euro Falls to Two-Month Low versus Yen on ECB Bets
2) Pound Weakens as Rate-Increase Bets Pushed Back After BOE
3) Ukraine Crisis Weighs on East Europe as EBRD Meets
4) Former BOJ Policy Maker Sees Japan Inflation Dilemma
5) WTI Rises for Third Day as Cushing Stockpiles Drop

Find full analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf