Daily Forex Report by www.epicresearch.co 30th January 2013

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indore, India (prHWY.com) January 30, 2013 - * HEADLINES
Rupee gains 25 paise against dollar as RBI cuts rates .The Indian currency today gained 25 paise against the US dollar after the Reserve Bank of India cut key policy rates by 25 basis points. Rupee opened at 53.95 and appreciated to 53.70 levels. About half of the 10 economists polled by ET on Friday had forecasted a 25-bps cut in repo rate. A basis point is 0.01 percentage point. The Reserve Bank of India reduced repo rate or the rate at which RBI lends to banks by 25 basis points from 8% to 7.75%. The reverse repo rate, determined with a spread of 100 basis points below the repo rate, is kept at 6.75%.RBI has reduced cash reserve ratio by 25 basis points, thereby, releasing around Rs 18,000 crore of liquidity into the banking system. RBI has reduced the cash reserve ratio from 4.25% to 4%. This will be effective from the fortnight beginning February 9

* TRADING TIPS
* SELL USD/INR
ABOVE 54.00
FOR TGT
53.85/53.3070
SL 54.20

PAST
PERFORMANCE
* BUY USD/INR
ABOVE 54.00
FOR TGT
54.15/54.30
SL 53.80
UNEXECUTED

DAILY EUR/INR CHART
ANALYSIS
OPEN: 54.2000
HIGH: 54.2400
LOW: 53.7750
CLOSE: 54.0375

* USD/INR LOOKS SIDEWAYS
* TREND: CONSOLIDATED
* STRATEGY: SELL ON RISE

DAILY EUR/INR CHART

ANALYSIS
OPEN: 72.8575
HIGH: 72.8575
LOW: 72.2325
CLOSE: 72.5100

EUR/INR LOOKS SIDEWAYS
TREND: CONSLODATED
STRATEGY: SELL ON RISE

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