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The Japanese Yen depreciated broadly

Wed, Oct 8 2008, 15:53 GMT
by ICICI Bank Treasury Research Group

ICICI Bank


  • • The Rupee pared most of its losses after the US Fed and 5 other central banks cut rates together. The USD/INR pair ended at 48.00 from 47.88 yesterday. 

  • • The 6-month and 1-year forward premium was at -0.64% and -0.23% as compared at -0.84% and -0.19% yesterday. 

  • • The Japanese Yen depreciated broadly after coordinated interest rate cuts by the US Fed and European and Chinese Central banks, which could help reduce risk aversion in the near term. EUR/USD was at 1.3706 from 1.3693 yesterday and GBP/USD was at 1.7531 from 1.7570 yesterday. USD/JPY was at 100.35 versus 102.64 yesterday. *

*These levels are taken at 17:30 IST.

Published on  Wed, Oct 8 2008, 15:55 GMT


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