NEWS / Foreign Exchange

The Euro trimmed its gains against the Dollar after the ECB left rates unchanged at 3.75%

??? The Rupee appreciated today as market participants continued to sell Dollar, but the central bank did not intervene to support the Dollar. The USD/INR pair ended at 42.82 from 42.87 earlier.

??? The 6-month and 1-year forward premium was at 5.36% and 4.20% as compared to 4.93% and 3.99% previously.

??? The Euro trimmed its gains against the Dollar after the ECB left rates unchanged at 3.75%. The market now awaits comments by President Trichet to signal a rate hike and that is going to be a big positive for the euro. USD/JPY was at 119.27 from 119.23 yesterday. EUR/USD was at 1.3465 from 1.342 yesterday and GBP/USD was at 1.9779 from 1.9771 yesterday. *

*These levels are taken at 18.00 IST.