New Delhi, India
September 14, 2023
USD/INR
The Indian Rupee (INR) closed at 83.05 against the US Dollar (USD), marking a slight minimal increase of 0.0300 (0.04%) for the pair. Rupee fell by three paise from its previous close and settled at 83.05 against the greenback. An appreciation of the Indian Rupee against the US Dollar can be anticipated in coming times, driven by a Dollar correction and positive economic data from India.
The day’s trading range extended from a high of 83.0875 to a low of 82.9700. It opened at 83.0150 and had a previous close of 83.0200.
GBP/INR
The GBP/INR exchange rate closed at 103.61, showing a minor movement of 0.0400 (0.04%). An analysis of the GBP/INR exchange rate reveals a bullish near-term outlook, with expectations of the Pound Sterling (GBP) benefiting from a soft US Dollar (USD) and possible interest rate hikes by the Bank of England (BoE). The support and resistance levels for GBPINR are crucial factors to consider in next market sessions.
The day’s range extended from a high of 103.7950 to a low of 103.5300. It opened at 103.6875, with a previous close of 103.5700.
EUR/INR
EUR/INR closed at 89.18, with a flat change of -0.0075 (-0.01%) from the previous close. Today, the European Central Bank (ECB) will decide on its future monetary policy, and ECB President comments following the decision may influence the Euro’s volatility. The Euro is expected to find support, driven by potential USD weakness and a likely ECB interest rate hike.
The day’s range extended from a high of 89.2975 to a low of 89.1375. It opened at 89.2675 and had a previous close of 89.1875.
JPY/INR
The JPY/INR pair closed at 56.50, showing no movement from the previous close. Market conditions are relatively stable for this currency pair in today’s session.
The day’s range extended from a high of 56.60 to a low of 56.4950. It opened at 56.5625, with a previous close of 56.5000.
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