Wednesday, 25 March 2015 14:43

Morning Currency Comments from Pan Capital Services INR 20 March 15

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Morning Commentary:

> Govt Actions: Indian parliament’s upper house will discuss the mines bill today. RBI to hold 11-day term repo auction for 210b rupees.

>Pan Capital Advisory: Please call us on +912812580087

>INR volatility index (monthly onshore) at 5.96.

>Asian Currencies: Asian currencies are Depreciating. Depreciation led by KRW at 0.41% to 1121.75.

>OIL: Oil prices little down to $54.67, as unprecedented glut in U.S. crude inventories.

>Economic Events: Today we do not have anything lined up for today except speeches from two governors of FED. Key factor will be increase in interest rates in US and pace of same. Any surprise on that side will bring lot of volatility.

> India spectrum bids reach 1.09t rupees on day 14 of sale

> India’s FM Jaitley says normal growth rate should be 8%-9%

>Global funds +14.3b rupees of local stocks; domestic funds +534.6m rupees yday: Provisional data from exchanges.

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