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The Yen remained strong against most currencies

Wed, Oct 15 2008, 16:48 GMT
by ICICI Bank Treasury Research Group

ICICI Bank


  • • The Rupee weakened against the Dollar as FIIs were net sellers in equity markets. The USD/INR pair ended at 48.53 from 48.07 yesterday. 

  • • The 6-month and 1-year forward premium was at 0.49% and 0.40% as compared at 0.19% and 0.24% yesterday. 

  • • The Yen remained strong against most currencies due to uncertainty regarding the effectiveness of the bail out plans. Weaker than expected US retail sales data further deteriorated sentiments. EUR/USD was at 1.3606 from 1.3736 yesterday and GBP/USD was at 1.7542 from 1.7593 yesterday. USD/JPY was at 101.17 versus 102.64 yesterday. *

*These levels are taken at 18:20 IST.


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