March 15, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 82.9200 up by 0.08%. The trading range for the day was 82.74-83, with the Rupee declining due to foreign outflows, exacerbated by weakness in regional peers amid US inflation concerns. The Ministry of Finance predicts nearly 7% growth in the Indian economy for 2024-25, with the current financial year expected to see a growth rate of 7.3%, positioning India as the fastest-growing major economy.
GBPINR
The last traded price of GBPINR was 105.6350 down by -0.43%. Traded within a range of 105.75-106.17, the Pound stabilized as UK GDP figures met expectations, showing a 0.2% month-over-month expansion in January 2024. However, the UK’s trade deficit widened to £3.129 billion in January 2024.
EURINR
The last traded price of EURINR was 90.2375 down by -0.46%. Trading between 90.45-90.73, the Euro remained range-bound as traders assessed the monetary policy outlook. Germany’s wholesale prices decreased by 3% year-on-year in February 2024, while industrial production in the Euro Area plunged by 3.2% month-over-month in January 2024.
JPYINR
The last traded price of JPYINR was 56.0075 down by -0.24%. The last traded price of JPYINR (22 Mar 2024) was 56.0075 down by -0.24%. Trading between 55.98-56.5, the Yen steadied as BOJ Governor Ueda mentioned the central bank’s intention to seek an exit from the easy policy when 2% inflation is in sight. Data indicated that producer prices in Japan rose more than expected in February, and the country’s economy returned to growth in the fourth quarter of 2023, averting a technical recession.
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