USD Vs INR

India’s rupee inched on Friday as stronger shares bolstered hopes capital outflows may steady, but ended down 1 percent for the week in which it hit a record low as deepening global woes cast a pall over riskier assets. The partially convertible rupee ended at 51.67/69 per dollar, 0.25 percent stronger than Thursday’s close of 51.76/78. On 3rd March 2009, the rupee had dropped to an all time low on 52.20.

Recommendation

Buy in the range of 51.50-51.40 stop loss below 51.10 Target 51.90-52.10

USD Vs JPY

The Japanese yen and the US dollar both weakened Friday after the US Labor Department reported that the US economy lost 651,000 jobs in February, fewer than were eliminated in January. After hitting a fresh four-month high of 99.67 yen earlier in the session, the dollar retreated and was last trading down 0.8 percent at 98.28 yen

Recommendation

Sell in the range of 98.50-98.60 stop loss above 98.90 Target 97.50-97.30

Click here to download full report

Reliance Money Disclaimer