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Nifty Intraday Trend Analysis, Stock Market Prediction & Support Levels
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Currency Trend – 21 Feb – 24 Feb 2012
No CommentsCurrency Trend
The Indian rupee ended flat on Friday as gains from foreign fund inflows were negated by strong demand for dollars from oil importers. Importers and oil companies are likely to step up dollar buying. Oil is India’s largest import item and oil refiners are the largest buyers of dollars in the local market. On Friday, oil steadied near $120, for a long-awaited Greek bailout deal and tension between OPEC producer Iran and the West. Traders ruled out near-term sharp volatility in the rupee, and said the unit is likely to remain largely range bound with some upward bias.
Major Currency news:
- Realty, power, auto and banking remained the lead performers.
- Rupee ends flat at 49.27; seen range bound in short term.
- Rupee off highs on oil importer demand………..click here
Published on February 20, 2012 · Filed under: Stock & Commodity Market Analysis (Nifty Sensex MCX Gold Silver) / Sure Shot Intraday Trading Tips & Calls; Tagged as: about forex, currency trading in india, currency trading tips in india .. forex india. about currency trading. Forex rates, daily forex trading tips, Forex day trading, What is forex Market?