NEWS / Foreign Exchange

The Euro is heading for a fourth week of gains against the dollar

??? The Rupee appreciated as inflation numbers came higher than expected, fuelling speculation of further tightening measures in the coming policy meeting. The USD/INR pair ended at 41.76 from 42.08 earlier.

??? The 6-month and 1-year forward premium was at 6.49% and 4.91% as compared to 6.10% and 4.68% previously.

??? The Euro is heading for a fourth week of gains against the dollar as ECB policy makers signaled higher interest rates are needed to contain inflation. USD/JPY was at 118.88 from 117.89 yesterday. EUR/USD was at 1.3595 from 1.3594 yesterday and GBP/USD was at 2.0027 from 2.0017 yesterday.

*These levels are taken at 20:15 IST.