DAILY FOREX REPORT FOR 27 JANUARY 2016

Rupee gains 9 paise; opens opens at 67.54 per dollar

The Indian rupee opened higher by 9 paise at 67.54 per dollar on Monday against 67.63 Friday. Agam Gupta of Standard Chartered said, "We should see a range of 67.45 - 67.80/dollar today. I expect stronger demand for USD to emerge below 67.50 levels. Exporters will look for the upticks to hedge their dollar receivables." "Market participants will continue to keep an eye on equity and oil moves through the day," he added. Dollar firm, boosted by increased expectations of monetary easing by Central Banks in Europe and Japan, and by strong US housing data.

Yen largely steady after weaker than expected exports,imports

The yen and Aussie held largely steady in Asia on Monday with trade data out of Tokyo a bit weaker than expected and investors keeping an eye on central banks. USD/JPY traded at 118.77, down 0.03%, while AUD/USD changed hands at 0.7007, up 0.02%. In Japan, the December trade balance came in at a surplus of ¥140 billion, beating a surplus of ¥100 billion seen. Exports fell 8.0%, more than the drop of 6.8% expected, while imports fell 18.0%, more than the 16.4% drop seen. The U.S. dollar index, which measures the greenback's strength against a trade -weighted basket of six major currencies, was quoted at 99.49, down 0.11%.