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MARKET EYE-USD/INR likely to see new 3-mth lows; fund flows strong
March 7, 2014 / 3:02 AM / 4 years ago

MARKET EYE-USD/INR likely to see new 3-mth lows; fund flows strong

* USD/INR likely to fall to new 3-month lows, breaching
61 levels in opening trades. The pair last closed at 61.11/12.
* Nifty futures traded on the Singapore Exchange are up
0.47 percent, while the MSCI-Asia Pacific index excluding Japan
 gains 0.28 percent, signalling new record highs
for shares.
* Overseas investors continue heavy buying of Indian shares, at
$207.84 million on Thursday it was their biggest daily purchase
since Dec. 19, provisional exchange data shows. 
* The euro hovered near a two-month high against the dollar
early on Friday following a relief rally when the European
Central Bank left its interest rates unchanged. 
* Most other Asian currencies like rupiah and Taiwan dollar
trading stronger compared with the U.S. dollar. See 
for a snapshot.
* USD/INR spot NDF at 60.98/03, 1-month at 61.28/32.
* A breach of 60.84 will mark the pair's lowest level since Aug.

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