RBI Forex Reference Rates – 30Apr2015

As on 30-Apr-2015 13:50:00
Underlying RBI Reference Rate
     1 $ 63.5780
     1 £ 97.9864
     1 € 70.5334
     100 ¥ 53.5300

The Euro is recovering well after steep losses in the last 3-4 months. Recovery of the Euro is positive for global economy as it indicates release of some hoarding pressure from the US Dollar, and willingness of investors to move back into other currencies. Good upside visible in the Euro even after the recent rally. EUR-USD target 1.22 and EUR-INR target 74.

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