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India Forex Market Report - 30 September 2014


The Indian rupee fell on Monday to its lowest level since early August against the US dollar after an upward revision in US quarterly growth data, increasing the likelihood of US Fed raising interest rates.
The US economy expanded at 4.6% annualized rate in the second quarter and as such the market is expecting an interest rate hike sooner than expected. Furthermore, any increase in Fed borrowing costs would reduce the appeal of emerging-market assets.

The RBI decided to keep the repo rate at 8% for the fourth straight policy meeting today and seem to be delaying interest rate cuts in order to protect the rupee against the increase in US borrowing costs and combating against inflation.

Emerging markets were also hit by on-going pro-democracy protests in Hong Kong.


30 September 2014 - 06h30 am RBI Interest Rate Decision (INR)

01 October 2014 - 06h00 am HSBC Manufacturing PMI (INR)
03 October 2014 - 12h30 pm Deposit Growth YoY (INR)
03 October 2014 - 12h30 pm Foreign Reserves (INR)
03 October 2014 - 12h30 pm Bank Load Growth (INR)
07 October 2014 - 06h00 am HSBC India Service PMI (INR)


Forex Market Round-Up
Asia Forex Market Report - 30 September 2014

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