Weekly Forex Report by www.epicresearch.co 4th February 2013

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indore, India (prHWY.com) February 4, 2013 - HEADLINE
Forex reserves rise to $ 295.75 billion
The foreign exchange reserves of the country rose by $ 77.6 million to $ 295.75 billion for the week ended January 25 in the wake of increase in currency assets, the Reserve Bank said today. The total reserves had dropped by $ 580 million to $ 295.67 billion in the previous reporting week. The foreign currency assets, a major component of the reserves, were up by $ 79.3 million to $ 261.708 billion for the week ended January25, Reserve Bank's weekly statistical supplement said today.
Rupee up for fourth straight week; more gains likely
The rupee closed marginally stronger on Friday and strengthened for a fourth straight week with dollar nflows into the domestic share and debt markets boosting the local unit with traders now awaiting the USnon-farm payrolls for directon.Traders expect foreign fund inflows into the local share market to continue in the near term especially ahead of the upcoming stake-sale by the government in state-owned power producer NTPC Ltd.
Swiss franc lower vs euro, regional output data eyed
The euro extended its rally in Asia on Friday as marketseye US jobs data later in the day, after a surprise GDP report showed the world's biggest economy contracted in the last quarter of 2012. The single currency bought $1.3622, from $1.3576 in New York trade on Thursday while it fetched 125.59 yen, compared with 124.52 yen in New York.
RBI REFERENCE RATE ST
As on 1 FEBRUARY 2013
UNDERLYING RATE
USDINR 53.3238
EURINR 72.6296
GBPINR 84.5982
JPYINR 57.8500
ANALYSIS
DAILY USD/INR
* OPEN: 53.8300
* HIGH: 54.0400
* LOW: 53.2600
* CLOSE: 53.4400
* USD/INR LOOKS SIDEWAYS
* TREND: CONSOLIDATED
* STRATEGY: BUY ON DIPS

DAILY EUR/INR
* OPEN: 72.0000
* HIGH: 73.0000
* LOW: 72.0000
* CLOSE: 72.8800
* EUR/INR LOOKS SIDEWAYS
* TREND: CONSOLIDATED
* STRATEGY: BUY ON DIPS

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