Currency Market Analysis: INR against major pairs

CurrencyVeda’s Analysis Report on Global Markets

November 10, 2023

New Delhi, India


traded within a range, reaching a high of ₹83.30 and a low of 83.24, with the last traded price at 83.2800, marking a 0.01% increase. The day’s trading range is anticipated to be between 83.23 and 83.33. The Rupee stood steady, with investors awaiting insights from senior Federal Reserve officials later this week. U.S. Treasury yields and the dollar declined following indications of a cooling labor market in the US.


observed a high of ₹89.06 and a low of 88.81, closing at 88.9025, down by -0.07%. The projected trading range for the day is 88.74-89.5. The Euro stumbled as global sentiment turned cautious, with a dollar and Treasury yields rebound, leading to downward pressure. In Germany, industrial production slumped by 1.4% in September 2023, following a revised 0.1% fall in August. Investors are keeping a close eye on upcoming economic reports from the Eurozone.


traded between a high of ₹102.32 and a low of 101.97, closing at 102.1650, down by -0.17%. The anticipated trading range for the day is 101.99-103.07. The Pound Sterling weakened against a strengthening U.S. dollar, with a close watch on economic data and market speculations regarding the Bank of England’s future actions. Retail sales in the UK rose by 2.6% on a like-for-like basis in October 2023, while the Halifax House Price Index dipped by 3.2% year-on-year in the same month.


fluctuated between a high of ₹55.65 and a low of 55.28, closing at 55.2750, down by -0.22%. The projected trading range for the day is 55.46-55.84. The Japanese Yen weakened as a consequence of the dollar and Treasury yields rebounding. In Japan, average cash earnings surged by 1.2% year-on-year in September 2023, while household spending decreased by 2.8% in real terms during the same period.