The Indian rupee strengthened to an 11-month high on Monday, gaining for a fourth consecutive session as strong foreign inflows led domestic equities to record closing highs after the election of a new government to be led by Narendra Modi. However, continued central bank dollar-buying capped broader gains, with traders expecting the Reserve Bank of India to continue stepping in as it looks to build up its foreign exchange reserves. Data on Friday showed India's dollar reserves surged to a more than two-year high of $313.83 billion for the week to May 9, the highest since Nov. 11, 2011.
Today’s Headlines
1) Gold Climbs on Speculation of India Relaxing Import Restrictions
2) India’s Rupee Advances to 11-Month High After BJP Wins Majority
3) Yen Rises to 3-Month High versus Dollar on Risk Aversion
4) Pound Falls versus Euro as Carney Warns of Housing Risks
5) Kenyan Shilling Slumps on Concern Attacks May Cut Tourism
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Today’s Headlines
1) Gold Climbs on Speculation of India Relaxing Import Restrictions
2) India’s Rupee Advances to 11-Month High After BJP Wins Majority
3) Yen Rises to 3-Month High versus Dollar on Risk Aversion
4) Pound Falls versus Euro as Carney Warns of Housing Risks
5) Kenyan Shilling Slumps on Concern Attacks May Cut Tourism
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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