NEWS / Foreign Exchange

The Dollar stayed range bound today as the market awaits the FOMC decision

??? The Rupee appreciated to a 19 month high as severe liquidity conditions forced banks to liquidate their Dollar holdings. The USD/INR pair ended at 43.44 from 43.75 earlier.

??? The 6-month and 1-year forward premium was at 4.73% and 3.74% as compared to 4.41% and 3.61% previously.

??? The Dollar stayed range bound today as the market awaits the FOMC decision. EUR/USD was at 1.33 from 1.3289 yesterday and GBP/USD was at 1.9589 from 1.9568 yesterday. USD/JPY was at 117.79 from 117.8 yesterday*.

*These levels are taken at 17:30 IST.