Tuesday, September 29, 2015

Cut in RBI repo rate

Today, Reserve Bank of India cut its key repo rate by 50 basis points to 6.75%, with inflation running at record lows and the economy in danger of slowing down. On the other hand, the international crude oil price of Indian basket declined 0.31% to US$44.79 a barrel on 28th September as against US$44.93 a barrel on 25th September. While Rupee closed stronger at `.66.08 per US$ on 28th September as against `.66.10 per US$ on 25th September.

The benchmark RSS3 grade closed at `.86.94 a kg at Bangkok and Malaysian SMR20 closed at `.81.18 a kg. On National Multi Commodity Exchange October 2015, the futures were trading at at `.114 a kg, November at `.113.79, December at `.114 and January 2016 at `.114 a kg at 12.20 IST. Tokyo Commodity Exchange October 2015 futures series closed at ¥153 a kg, November at ¥154.4, December at ¥158.3, January 2016 at ¥161.4, February at ¥163 and the contract for delivery in March 2015 closed at ¥164.5 a kg.

To read Rubber4U – 1st October 2015 issue: http://rubber4u.com/Public/Abcd.pdf
For 2015-16 Rubber Forecast: http://rubber4u.com/Public/RForecast.pdf

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