Share tips by Researchvia: Rupee declined by 6 paise 12 feb

Today, rupee declined by 6 paise in early trade to hit its lowest level of 68.36 against the USD since Sep 2013 amid mixed cues from Asian currency markets.Click for Share tips

The local currency ended at a 29-month closing low of 68.30 as compared to the greenback on yesterday on fresh dollar requirement from banks & importers.

Most other Asian markets traded weak as the carnage in world equity markets continued. Japan's Nikkei fell by 5.34 per-cent while the South Korean Kospi went down 2 per-cent. Hong Kong's Hang Seng index was trading lower by around 0.7 per-cent. Chinese & Taiwanese markets remain shutdown.

Mcx Crude Oil fell near to USD 37 29 Dec, 2015

Today, Crude Oil fell near to USD 37 a barrel on trading within sight of an 11-year low, pressured by excess supply that has more than halved prices since the downturn began in mid-2014.

US(United States) crude was trading below global benchmark Brent, having earlier in Dec risen to a premium for the 1st time in the whole year following the lifting of a 40-year-old ban on most US(United States) crude exports. Brent crude went down 85 cents at USD 37.04 a barrel at 1255 GMT.

It fell down to 35.98 USD, an 11-year low, today. US(United States) crude went down USD 1.16 at USD 36.94. Trading volume was lighter than normal due to a UK holiday. We estimate both prices to increase in next year, a short-term slip can't be excluded, due to persisting oversupplies, negative sentiment & powerfull downside momentum.

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Rupee ahead 6 paise against USD 22 Dec, 2015

 Taking its winning streak to the 6th trading session, the INR(rupee) ahead 6 paise to 66.29 against the US dollar in early trade today. The rise was largely in line with gains seen in Asian currencies.

Asian currencies which were trading high -

1. Indonesia rupiah (up 1.07 per-cent)
2. Taiwanese dollar (up 0.77 per cent)
3. Malaysian ringgit (up 0.29 per-cent)
4. Korean won (0.12 per-cent)

Singapore dollar and Thai baht contributed 0.11 per-cent each. Chinese yuan inched up 0.04 per-cent.

Dollar index, which tracks the movement of USD against a basket of 6 major world currencies, stood at 98.40.

Read More : Commodity tips