Monday, 06 April 2015 05:48

Morning Currency Comments from Pan Capital Services INR 13 March 15

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> Govt Actions: RBI to hold 28-day term repo auction for 300b rupees and 14-day term repo auction for 155b rupees today.

>Pan Capital Advisory: Please call us on +912812580087

>INR volatility index (monthly onshore) at 6.41.

>Asian Currencies: Asian currencies are Mix. Depreciation led by MYR at -0.15%% to 3.6925 and appreciation led by KRW at 0.22% to 1124.05.

>OIL: Oil prices little down to $57.19, as Oman sees global oil surplus 1m to 1.5m b/d: Oil Undersecretary. It may support INR.

>Economic Events: Yesterday we got IIP for India which came at 2.6% higher than expectation of 0.7%. Today we have US consumer sentiment and PPI. Both are expected to be better than last reading, it may support USD.

> India approves increase in insurance FDI cap to 49%

> Spectrum bids reach 1.02t rupees at end of 8th day of sale

> Global funds +7.33b rupees of local stocks; domestic funds -3.82b rupees yday: Provisional data from exchange


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