Durable Goods Orders

Durable Goods Orders are a measure of the new orders placed with domestic manufacturers for immediate and future delivery of factory hard goods. Monthly percent changes reflect the rate of change of such orders.

Levels of, and changes in, durable goods order are widely followed as an indicator of factory sector momentum.

Durable Goods Orders are a major indicator of manufacturing sector trends because most industrial production is done to order. Often, the indicator is followed but excludes Defence and Transportation orders because these are generally much more volatile than the rest of the orders and can obscure the more important underlying trend.

Durable Goods Orders are measured in nominal terms and therefore include the effects of inflation. Therefore the Durable Goods Orders should be compared to the trend growth rate in PPI to arrive at the real, inflation-adjusted Durable Goods Orders.

Rising Durable Goods Orders are normally associated with stronger economic activity and can therefore lead to higher short-term interest rates that are often supportive to a currency at least in the short term.

Payroll Employment

Payroll employment is a measure of the number of people being paid as employees by non-farm business establishments and units of government. Monthly changes in payroll employment reflect the net number of new jobs created or lost during the month and changes are widely followed as an important indicator of economic activity.

Payroll employment is one of the primary monthly indicators of aggregate economic activity because it encompasses every major sector of the economy. It is also useful to examine trends in job creation in several industry categories because the aggregate data can mask significant deviations in underlying industry trends.

Large increases in payroll employment are seen as signs of strong economic activity that could eventually lead to higher interest rates that are supportive of the currency at least in the short term. If, however, inflationary pressures are seen as building, this may undermine the longer term confidence in the currency.

Producer Price Index

The Producer Price Index (PPI) is a measure of the average level of prices of a fixed basket of goods received in primary markets by producers. The monthly PPI reports are widely followed as an indication of commodity inflation.

The PPI is considered important because it accounts for price changes throughout the manufacturing sector.

The PPI is often followed but excludes the food and energy components as these items are normally much more volatile than the rest of the PPI and can therefore obscure the more important underlying trend.

Studying the PPI allows consideration of inflationary pressures that may be accumulating or receding, but have not yet filtered through to the finished goods prices.

A rising PPI is normally expected to lead to higher consumer price inflation and thereby to potentially higher short-term interest rates. Higher rates will often have a short term positive impact on a currency, although significant inflationary pressure will often lead to an undermining of the confidence in the currency involved.

Consumer Price Index

The Consumer Price Index (CPI) is a measure of the average level of prices of a fixed basket of goods and services purchased by consumers. The monthly reported changes in CPI are widely followed as an inflation indicator.

The CPI is a primary inflation indicator because consumer spending accounts for nearly two-thirds of economic activity. Often, the CPI is followed but excludes the price of food and energy as these items are generally much more volatile than the rest of the CPI and can obscure the more important underlying trend.

Rising consumer price inflation is normally associated with the expectation of higher short term interest rates and may therefore be supportive for a currency in the short term. Nevertheless, a longer term inflation problem will eventually undermine confidence in the currency and weakness will follow.

Gross Domestic Product

The Gross Domestic Product (GDP) is the broadest measure of aggregate economic activity available. Reported quarterly, GDP growth is widely followed as the primary indicator of the strength of economic activity.

GDP represents the total value of a country's production during the period and consists of the purchases of domestically produced goods and services by individuals, businesses, foreigners and the government.

As GDP reports are often subject to substantial quarter-to-quarter volatility and revisions, it is preferable to follow the indicator on a year-to-year basis. It can be valuable to follow the trend rate of growth in each of the major categories of GDP to determine the strengths and weaknesses in the economy.

A high GDP figure is often associated with the expectations of higher interest rates, which is frequently positive, at least in the short term, for the currency involved, unless expectations of increased inflation pressure is concurrently undermining confidence in the currency.

Working with statistics

Trade Balance

The trade balance is a measure of the difference between imports and exports of tangible goods and services. The level of the trade balance and changes in exports and imports are widely followed by foreign exchange markets.

The trade balance is a major indicator of foreign exchange trends. Seen in isolation, measures of imports and exports are important indicators of overall economic activity in the economy.

It is often of interest to examine the trend growth rates for exports and imports separately. Trends in export activities reflect the competitive position of the country in question, but also the strength of economic activity abroad. Trends in import activity reflect the strength of domestic economic activity.

Typically, a nation that runs a substantial trade balance deficit has a weak currency due to the continued commercial selling of the currency. This can, however, be offset by financial investment flows for extended periods of time.

Forex Business Branches

International Banking offices / branches

International Banking Deptt,
The Bank of Rajasthan Ltd.
Corporate Office,
11/12, Raghuvanshi Mills Compound,
Senapati Bapat Marg,
Lower Parel,
Mumbai – 400013
Shri Gaurang Vasavada,Asstt. General Manager
91-09324446700(M)
Tel - 91-22-30400026/22-32533423
Fax: 91-2-24983657/22-30401826
E - Mail : ibd@rajbank.com

Forex Branches:
AHMEDABAD
Opp. Town Hall, Elise Bridge , Ashram Road,
Ahemdabad-380006 (Gujrat )
Branch Head: Sh.N.K Bhutani - AVP I
Tel : 91-79-32987300,32930570,09327022112(M)
FAX : 91-79-6579227
Swift: BRAJINBBARA
E-Mail: arahmedabad@rajbank.com

BANGALORE
Maruthi Complex,
325,5th Main Rd,
Gandhi Nagar ,
Bangalore-560009(Karnataka)
Branch Head: Sh. B.L Sharma - Chief Manager
TEL : 09341289405(M), 91-80-32912664, 32980928
FAX : 91-80-22260540
Swift: BRAJINBBBLR
E-Mail: bangalore@rajbank.com

BHILWARA
14-A,Gandhi Nagar,
Gangapur Chouraha,
Pur Road, Bhilwara-311001(Rajasthan)
Branch Head: Sh.P.C Gangwal - Asstt.Vice President-I
TEL : 093521 45167(M), 91-1482-321008, 329813
FAX : 91-1482-242021
Swift: BRAJINBBGNB
E-Mail: gnbhilwara@rajbank.com

CHENNAI
10,Wavoo Complex,
2nd floor,191,N.S.C Bose Road,
Chennai-600001 (Tamil Nadu)
Branch Head: Sh.Vimal Jain - Senior Manager
TEL : 093810 61901(M), 91-44-32925807, 32956336
FAX : 91-44-25383416
SWIFT : BRAJINBBMAS
E-Mail: Chennai@rajbank.com

HYDERABAD
15-1-503/A 83,Hotel Rajdhani Complex
P.B No. 1124,Siddiamber Bazar,
Hyedrabad-500012 (A.P)
Branch Head: Sh.N.L Bapna, Asstt.Vice President-II
TEL : 91-40- 32925879, 32404600, 093910 55308(M)
FAX : 91-40-24745920
SWIFT : BRAJINBBHYD
E-Mail: hydrabad@rajbank.com

INDORE
19/1, New Palasia ,
Indore-452001 (Madhya Pradesh)
Branch Head: Sh.C.P Jain - Chief Manager
TEL :0731-3268191 , 3297267, 093021 22941(M)
FAX: 0731-2543717
SWIFT : BRAJINBBNPI
E-Mail: npindore@rajbank.com

JAIPUR
1. Overseas Branch,Raj.Bank Building
Johari Bazar,Jaipur-302001(Rajasthan)
Branch Head: Sh.D.K Jain, AVP II
Tel : 093146 39003(M), 0141-3256139, 3220729
Fax : 91 - 141 – 2575820
TLX : 365 - 22960
SWIFT : BRAJINBBOSJ
E-Mail: ovjaipur@rajbank.com

2. Raj Bank Building,
Bhagat Bhawan,M.I.Road,
Jaipur-302001(Rajasthan)
Branch Head: Sh.Akheklesh Behari Shrivastava, AVP-II
TEL : 0141-3205629, 3227721, 093146 32337(M)
FAX : 91-141-2364819
SWIFT : BRAJINBBMIJ
E-Mail: miroadjaipur@rajbank.com

JODHPUR
Chand Shah Takia Market ,
Sojati Gate,Jodhpur-342003(Rajasthan)
Branch Head: Sh.S.M Sharda - Chief Manager
TEL : 09314224690(M), 91-291-3247001, 3293695,
FAX : 91-291-2650407
SWIFT : BRAJINBBSGJ
E-Mail: sgjodhpur@rajbank.com

KOLKATA
Hall & Anderson Building ,
31, Chowringhee Road,
Calcutta-700016 (West Bengal)
Branch Head: Sh Bhaskar Basu - Asstt.Vice President-I
TEL : 093310 83904(M),033-32518318, 32969038,
FAX : 91-33- 22498482
SWIFT : BRAJINBBCRC
E-Mail: crcalcutta@rajbank.com

MUMBAI
1. Overseas Branch ,
Ground Floor,Mittal Towers ,
C-Wing,
Nariman Point,Mumbai-400021
Branch Head: Shri Ashok Sharma - Sr. AVP
TEL : 91-22-32606415(D), 093230 40779(M),
32509220,32515999,32508029,
Forex Dealing Room 91 - 22 - 22826660
FAX : 91-22-22826069
SWIFT : BRAJINBBOSM
E-Mail : ovmumbai@rajbank.com

2. 18/20, Cawasji Patel Street ,
Jeevan Jyoti Building, Fort
Mumbai-400023 (Maharastra)
Branch Head: Sh.S.P Rastogi - AVP II
TEL : 91-22-32533799(D), 093224 06069(M),
32603987,32531342,32520560,32922022
FAX : 022-22873471
Swift: BRAJINBBBYF
E-Mail: fortmumbai@rajbank.com

3. Vishal Apartments,Shopping Centre ,
Andheri Kurla Road, Andheri (E)
Mumbai -400069 (Maharastra)
Branch Head: Sh.Anil Morey - Chief Manager
TEL : 91-22-32507701,32531345,093226 44416(M)
Fax: 91-22-26832872
Swift: BRAJINBBBANM
E-Mail: andherimumbai@rajbank.com

4. Treasury Branch,
Jeewan Jyot Building,3^rd Floor,
18/20,Cawasji Patel Street,
Mumbai-400001
Forex Dealing Room: 91-22-66378356/22-66378357
Back Office: 22823025/22823027
Branch Head: Shri J.L.Chimpa.,Chief Manager
Tel::022-22823028 (D)/91-0932644440 (M)
E-mail: forexcell@rajbank.com ,trebrmumbai@rajbank.com
Swift: BRAJINBB

NEW DELHI
1. Overseas Br.
204 Surya Kiran Building ,
19, Kasturba Gandhi Marg
Branch Head: Mr.A.K Awasthi - Asstt.Vice President-III
TEL : 093508 22885, 91-11-23730823, 32422050
FAX : 91-1123730072
SWIFT : BRAJINBBOSD
E-Mail: ovdelhi@rajbank.com

2. E-17, South Extension , Part-II
New Delhi-110049
Branch Head: Sh. C.P Sharma - Asstt. Gen. Manager
TEL : 093139 87986, 011-32442779, 32404599
FAX : 91-11- 26259561
SWIFT : BRAJINBBDSE
E-Mail: sedelhi@rajbank.com

3. F-42, Kolhapur Road , Kamla Nagar
Branch Head: Sh Praveen Kumar Behl - Senior Manager
TEL : 91-11-32591777, 93139 78041(M)
FAX : 011-23841990
SWIFT : BRAJINBBDKN
E-Mail: kndelhi@rajbank.com

PANIPAT
Opp. I.B. College,G.T Road,
Panipat 132103 (Haryana)
Branch Head: Sh.Hemant Desai - Manager
Tel : 0180329593/3206802/09371031343(M)
Swift: BRAJINBBPPT
E-Mail: panipat@rajbank.com

PUNE
579, Sadashiv Peth ,
Umbrya Ganpati Chowk,Laxmi Road,
Pune-411030(Maharastra)
Branch Head: Sh.H.C Sharma - Senior Manager
TEL : 91-020-32514440/09371063110(M),
FAX : 91-020-24459851
Swift:BRAJINBBPUN
E-Mail: pune@rajbank.com

SILVASSA
Plot No 282-283,Trimula Complex,
Vapi Main Road, Opp.Jumma Masjid
Silvassa-396230 (UT of Dadra & Nagar Haveli),
Branch Head: Sh.Hemant Desai - Manager
Tel : 0260-3295648,0260-3293956/09377000659(M)
FAX : : 0260-2463590
Swift: BRAJINBBSIL
E-Mail: silvasa@rajbank.com

TIRUPUR
18 Court Street,
Tirupur 641601
Distt. Coimbatore (TN)
Branch Head: Sh.K.R. Pillai, Sr. Manager
TEL : 0421-3295948/09344219884(M)
FAX : 0421-2235005
SWIFT : BRAJINBBTIR
E-Mail: tirupur@rajbank.com

UDAIPUR

Bapu Bazar,
Udaipur-313001.(Rajasthan)
Branch Head: Sh.Anil Kothari, Asstt.Gen.Manager
TEL : 91-294-3291955, 3296170,3202060, 093525-23819(M)
FAX : 91-294-2410098
Swift:BRAJINBBBBU
E-Mail: bbudaipur@rajbank.com