1The Rupee crossed the 60 mark versus the US Dollar[about 60.15].It is expected to "stabilize"[?] around 61/63.
2.Bernanke allows US banks to hold huge reserves.
81.% of the Reserves created by QE is sitting idle.
3.Reasons and causes of the Rupee's fall and the bad Fiscal Position.
Excerpts from the ;link above:-
i)Overseas funds have pulled $1.5 billion from domestic shares in June, poised to become net sellers for the first month since May 2012. They have also cut rupee debt holdings by $5.1 billion after buying in each of the previous six months. The sell-off is the reason for the rupee’s slide, the RBI said in a June 17 statement, as it kept interest rates unchanged for the first time in four meetings.
ii)The plunge will inflict “significant damage” on India’s economy and the central bank’s ability to stem the drop is limited as currency reserves are enough to cover only about seven months of imports, according to Royal Bank of Scotland Plc.
iii)The country’s foreign currency stockpile was $290.7 billion as of June 14, down from an all-time high of $321 billion in 2011, official data show.
Sensex -77 ; 18552 19722[14/5/2013]
Nifty Futures [Monthly] about 4 points Discount 26/6/2013
P/C 0.776
vix[fear index]:-
India 21.07 -0.07 -0.33 %[HIGH,Indicates Bearish Trend]
Foreign D/M/Y :- Rs Crores - -547
Indian Rs Crores :- +337
BDI $ 1125;+35;+3.11% ABOVE 200 DMA of 861.30.
Gold 1230 $/US Oz Rs 26165 / 10 grams { Manipulation as Crude price ONLY is going up on a weak Dollar but others fall,especially Gold and Silver to some extent.Big Oil and "THE" Bankers?]
[CME has reduced Margins for Gold,Silver and Copper contracts on 15/11/2012]
Silver 596 $/kg Rs 39570 / Kg [in India PHYSICAL Silver at about 10% premium]
Copper 3.0410 $/Lb
Reuters CRB Index US $ 276.79
Brent Crude 101.66 $/bbl [43% Indian Crude basket] [MANIPULATION by the vested interests]
Oman Dubai Crude [57%R Indian Crude basket]
----------------------
Crude Oil (Indian Basket) 25/6/2013
- In US Dollar ($/bbl) 99.96
- In Indian Rupees (`/bbl) 5967.61
last fortnight " " 5805.46 [June 1 st to 15 th, ,2013]
Exchange Rate (`/$) 59.70
----------------------
US Dollar Index 82.89
Re V Dollar 60.72 [By keeping the Rupee weaker the Indira Congress party Coalition is STEALING the wealth of INDIANS!!!]
HS BC manufacturing Purchasing Managers' Index (PMI) , compiled by Markit, 50.1 in May,2013.It was 50.7 in April.
Above 50 indicates growth.
2.Bernanke allows US banks to hold huge reserves.
81.% of the Reserves created by QE is sitting idle.
3.Reasons and causes of the Rupee's fall and the bad Fiscal Position.
Excerpts from the ;link above:-
i)Overseas funds have pulled $1.5 billion from domestic shares in June, poised to become net sellers for the first month since May 2012. They have also cut rupee debt holdings by $5.1 billion after buying in each of the previous six months. The sell-off is the reason for the rupee’s slide, the RBI said in a June 17 statement, as it kept interest rates unchanged for the first time in four meetings.
ii)The plunge will inflict “significant damage” on India’s economy and the central bank’s ability to stem the drop is limited as currency reserves are enough to cover only about seven months of imports, according to Royal Bank of Scotland Plc.
iii)The country’s foreign currency stockpile was $290.7 billion as of June 14, down from an all-time high of $321 billion in 2011, official data show.
Sensex -77 ; 18552 19722[14/5/2013]
Nifty Futures [Monthly] about 4 points Discount 26/6/2013
P/C 0.776
vix[fear index]:-
India 21.07 -0.07 -0.33 %[HIGH,Indicates Bearish Trend]
Foreign D/M/Y :- Rs Crores - -547
Indian Rs Crores :- +337
BDI $ 1125;+35;+3.11% ABOVE 200 DMA of 861.30.
Gold 1230 $/US Oz Rs 26165 / 10 grams { Manipulation as Crude price ONLY is going up on a weak Dollar but others fall,especially Gold and Silver to some extent.Big Oil and "THE" Bankers?]
[CME has reduced Margins for Gold,Silver and Copper contracts on 15/11/2012]
Silver 596 $/kg Rs 39570 / Kg [in India PHYSICAL Silver at about 10% premium]
Copper 3.0410 $/Lb
Reuters CRB Index US $ 276.79
Brent Crude 101.66 $/bbl [43% Indian Crude basket] [MANIPULATION by the vested interests]
Oman Dubai Crude [57%R Indian Crude basket]
----------------------
Crude Oil (Indian Basket) 25/6/2013
- In US Dollar ($/bbl) 99.96
- In Indian Rupees (`/bbl) 5967.61
last fortnight " " 5805.46 [June 1 st to 15 th, ,2013]
Exchange Rate (`/$) 59.70
----------------------
US Dollar Index 82.89
Re V Dollar 60.72 [By keeping the Rupee weaker the Indira Congress party Coalition is STEALING the wealth of INDIANS!!!]
HS BC manufacturing Purchasing Managers' Index (PMI) , compiled by Markit, 50.1 in May,2013.It was 50.7 in April.
Above 50 indicates growth.
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