January 12, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.0500 down by 0.00%. The day’s range for USDINR was a high of ₹83.13 and a low of 83.04
The Indian Rupee remained relatively stable, awaiting key U.S. inflation data that could influence the outlook for interest rates. The U.S. experienced a rise in annual inflation to 3.4% in December, up from 3.1% in November. Indian Prime Minister Modi expressed optimism about India’s trajectory to become one of the top three global economies.
GBPINR
The last traded price of GBPINR was 106.0700 up by 0.14%. The day’s range for GBPINR was a high of ₹106.16 and a low of 106.06
The British Pound (GBP) gained ground as investors analyzed remarks from Bank of England Governor Andrew, who expressed confidence in consumers and the UK economy despite a rapid rise in borrowing costs. Money markets were pricing in around 115 basis points of BoE rate cuts in 2024.
EURINR
The last traded price of EURINR was 91.1500 down by -0.05%. The day’s range for EURINR was a high of ₹91.27 and a low of 91.15
The Euro strengthened as investors considered comments from multiple ECB policymakers. Concerns about weak growth and a possible recession in the Eurozone were voiced by ECB’s de Guindos, who also noted a potential slowdown in the Eurozone’s services sector.
JPYINR
The last traded price of JPYINR was 57.3575 up by 0.24%. The day’s range for JPYINR was a high of ₹57.44 and a low of 57.31
The Japanese Yen (JPY) weakened as investors awaited U.S. and domestic inflation data. The Bank of Japan maintained ultra-loose monetary settings and made no comments on ending negative rates. Japan’s reserve assets rose to $1.295 trillion in December, marking the highest level since July 2022.
