March 14, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 82.8675 up by 0.03%. The trading range for the day was 82.71-82.85, with the Rupee ending relatively unchanged as investors assessed the potential timing of interest rate cuts by the Fed. US annual inflation unexpectedly edged up to 3.2% in February, compared to 3.1% in January, while India’s annual retail inflation remained stable at 5.09% in February 2024.
GBPINR
The last traded price of GBPINR was 105.9875 down by 0.00%. Traded within a range of 105.53-106.35, the Pound weakened as investors digested the latest UK jobs report, which showed a modest increase in payrolled employees but a slight uptick in the unemployment rate to 3.9% from November 2023 to January 2024.
EURINR
The last traded price of EURINR was 90.6625 up by 0.08%. Trading between 90.4 and 90.64, the Euro dropped as ECB President Lagarde adopted a cautious approach, emphasizing the need for more evidence before considering rate adjustments. The Eurozone economy stagnated in the fourth quarter of 2023, following a 0.1% contraction in the previous period, with slight fiscal contraction deemed appropriate by Eurozone ministers for 2025.
JPYINR
The last traded price of JPYINR was 56.0725 up by 0.08%. Trading between 56.11 and 56.55, the Yen depreciated as the business survey index fell sharply to -6.7% in the first quarter of 2024, indicating weakening sentiment. While Japan’s economy is in recovery, BOJ Chief Ueda highlighted signs of weakness, despite producer prices rising by 0.6% year-on-year in February 2024.
