WEEKLY FOREX REPORT

7th JANUARY 2012

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HEADLINES

Race for weakness to see euro, sterling gain in

2013

The yen and dollar face a tough 2013 as the Japanese

and U.S. central banks print money furiously to

stimulate their economies, making the euro and

sterling unlikely relative winners despite Europe's

gloomy prospects.With a global economic recovery

looking shaky, analysts say the major central banks will

be happy to see their currencies weaken this year if it

helps their exporters to become more internationally

competitive.

Pound retreats after weak services PMI as

dollar gains

Sterling fell to its lowest in more than three weeks

against the dollar on Friday after weak UK services data

and as the dollar rose broadly after some U.S.

policymakers called for monetary stimulus to be

slowed.Britain's dominant service sector shrank for the

first time in two years in December, a purchasing

managers' survey showed, suggesting the economy may

have contracted in the fourth quarter of 2012 following

a third quarter rebound.

Forex reserves up by $39.4 million to $296.58

billion

The country's forex reserves increased by $ 39.6 million

to $ 296.578 billion on the back of rise in currency

assets during the week ended December 28, the

Reserve Bank said today.

RBI REFERENCE RATE

As on 4THJANUARY 2012

UNDERLYING RATE

USDINR 54.8458

EURINR 71.5405

GBPINR 88.1646

JPYINR 62.5000

PRODUCT NAME

EXP DATE OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE CHANGE

CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61

CHILLI 7/19/2012 5060 5060 5018 5120 5018 -102 -1.99

GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46

JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -252.5 -1.68

KAPAS 7/19/2012 1044 1053 1035 1049 1041 -8 -0.76

PEPPER 7/19/2012 42300 42555 42250 42390 42435 45 0.11

REF SOYA 7/19/2012 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2

SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28

TURMERIC 7/19/2012 4600 4676 4518 4664 4540 -124 -2.66

WHEAT 7/19/2012 1251 1282 1251 1246 1282 36 2.89

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DAILY MARKET STATISTICS (As on 4thJANUARY 2012)

Symbol Series/Expiry Unit Open High Low Close Prev. Close

EUR-INR 29-Jan-2013 1 EUR 71.6500 72.0425 71.5700 71.9600 71.7075

EUR-INR 26-Feb-2013 1 EUR 71.8400 72.2775 71.8125 72.1825 71.9600

GBP-INR 29-Jan-2013 1 GBP 88.6000 88.6950 88.2125 88.5950 88.4875

GBP-INR 26-Feb-2013 1 GBP 88.5700 88.9700 88.5125 88.8575 88.7475

JPY-INR 29-Jan-2013 100 JPY 62.7325 62.8350 62.5125 62.7100 62.9725

JPY-INR 26-Feb-2013 100 JPY 62.9050 63.0575 62.7525 62.9050 63.1525

USD-INR 29-Jan-2013 1 USD 54.8300 55.3900 54.8300 55.3325 54.7300

USD-INR 26-Feb-2013 1 USD 55.1600 55.6325 55.1600 55.5800 54.9675

USD-INR 27-Mar-2013 1 USD 55.3950 55.8700 55.3925 55.8275 55.2175

WEEKLY USD/INR CHART

ANALYSIS

OPEN: 55.0000

HIGH: 55.3900

LOW: 54.4700

CLOSE: 55.3300

USD/INR LOOKS SIDEWAYS

TREND: CONSOLIDATED

STRATEGY: BUY ON DIPS

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WEEKLY EUR/INR CHART

ANALYSIS

OPEN: 72.6400

HIGH: 72.9900

LOW: 71.4500

CLOSE: 71.9600

EUR/INR LOOKS SIDEWAYS

TREND: CONSOLIDATED

STRATEGY: BUY ON DIPS

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FOREX FORTHCOMING EVENTS

DAY TIME CURRENCY DETAILS ACTUAL FORECAST PREVIOUS

THURSDAY 7:00 am GBP Asset Purchase Facility 375B 375B

THURSDAY 7:00 am GBP Official Bank Rate 0.50% 0.50%

THURSDAY Tentative GBP MPC Rate Statement

THURSDAY 7:45am EUR Minimum Bid Rate 0.75% 0.75%

THURSDAY 8:30am EUR ECB Press Conference

THURSDAY 8:30am USD Unemployment Claims 361K 372K

FRIDAY 4:30 am

USD Manufacturing Production m/m 0.6% -1.3%

FRIDAY 8:30am USD Trade Balance -41.1B -42.2B

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