FOREX REPORT FOR 28 OCTOBER 2014

MARKET HEADLINES

Rupee up 8 paise against dollar in early trade
Maintaining its gaining streak for the fifth straight day, the rupee appreciated by eight paise to 61.19 against the US dollar in early trade at the Interbank Foreign Exchange today on increased capital inflows amidst selling of the American currency by exporters.

Besides, strengthening of the euro against the dollar in overseas market and a higher opening in the domestic equity market supported the rupee, traders said.

The rupee had gained four paise to close at over one-week high of 61.27 in the previous session on Wednesday.

Forex market remained closed on Thursday and Friday on account of "Diwali" and "Balipratipada", respectively.

The benchmark BSE Sensex rose by 49.33 points, or 0.18 per cent, to 26,900.38 in early trade.

Euro dips on caution ahead of banks' stress test results, yen firm
The euro slipped on Friday, as investors were cautious ahead of the results on Sunday of stress tests on euro zone banks, while the yen was underpinned by safe-haven flows due to a fresh Ebola scare in New York.

In the European session, sterling is likely to be in focus before British third-quarter gross domestic product numbers. Forecasts are for growth to moderate in the third quarter, which would bolster expectations that interest rates will stay lower for longer.

The euro was slightly lower against the dollar at $1.2638 , not far from a two-week low struck on Thursday. It fetched 136.70 yen, down about 0.1 per cent.

The euro zone's 130 biggest banks received the European Central Bank's final verdict on their finances on Thursday.

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