Indian rupee rallied to an eight-month high!

The Indian rupee rallied to an eight-month high, boosted by continued foreign fund inflows into domestic shares, but suspected dollar purchases by the central bank prevented the currency from gaining much further. The RBI has long been expected to start buying dollars when the rupee strengthens to add to foreign exchange reserves of $297.29 billion-the highest since late December 2011. The central bank's Dollar purchases would reflect the strength of a rupee rally. The RBI had to regularly buy the domestic currency just about half a year ago to keep it from hitting record lows.

Today’s Headlines

1) India’s Rupee Climbs to Eight-Month High on Election Optimism
2) Aussie Rises to 4-Month High; Franc Falls
3) Pound Advances against Euro as Weale Says Rates Should Increase
4) Gold Trades above Five-Week Low as Ukraine, Weighed

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

Dollar Set for Biggest Weekly Gain in Two Months

The Indian rupee rose the most in two weeks on Friday to gain 0.5 percent for the week on the back of strong foreign flows into domestic markets even as other emerging Asian currencies buckled over concerns about U.S. interest rates and China's weakening yuan. Foreign funds have poured in $3.8 billion in domestic equities and bonds in March, sending indexes to record highs on Tuesday. The partially convertible rupee closed at 60.895/905 per dollar, stronger than Thursday's close of 61.34/35, scoring a third weekly gain in four. It gained 0.7 percent in the session, its biggest daily gain since March 6

Today’s Headlines

1) Dollar Set for Biggest Weekly Gain in Two Months.
2) Asia Currencies Slide in Week on Fed Outlook.
3) U.S. Keeps AAA by Fitch, Outlook Raised on Debt Pact.
4) Pound Set for Biggest Weekly Drop in 4 Months as Policy Diverges.
5) India’s Rupee Rebounds as Improving Economy.

Read detail analysis report: - http://rrfcl.weebly.com/1/post/2014/03/dollar-set-for-biggest-weekly-gain-in-two-months.html