March 18, 2023
New Delhi, India
USDINR:
The last traded price of USDINR was 82.8925 up by 0.02%. The trading range for the day was 82.79-82.95, with the Rupee edging marginally higher, mirroring rangebound price action among most of its Asian peers. India’s wholesale prices increased for the fourth consecutive month in February, albeit at a slower pace than expected. Fitch Ratings revised India’s GDP growth forecast upwards for the ongoing and the next financial year.
EURINR:
The last traded price of EURINR was 90.2575 down by -0.01%. Trading between 90.55-90.77, the Euro remained stable as traders continued to assess the monetary policy outlook. Germany’s wholesale prices declined by 3% year-on-year in February 2024, while industrial production in the Euro Area contracted by 3.2% month-over-month in January 2024.
GBPINR:
The last traded price of GBPINR was 105.5275 down by -0.12%. Traded within a range of 105.84-106.32, the Pound gained ground as Britain’s economy returned to growth in January, expanding by 0.2% month-over-month. However, the UK’s trade deficit widened to £3.129 billion in January 2024.
JPYINR:
The last traded price of JPYINR was 55.6125 down by -0.27%. Trading between 56.09-56.31, the Yen remained steady as BOJ Governor Ueda provided a slightly pessimistic assessment of the economy, despite moderate recovery. Japan’s economy returned to growth in the fourth quarter of 2023, averting a technical recession.
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