Currency Market Pre-Market updates Aug 30, 2023

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Welcome to our daily pre-market update, where we comprehensively analyze the Indian rupee’s performance in the currency markets. In this article, we will delve into the previous day’s trading session, examining the critical movements of the rupee against major currencies such as the US dollar (USD), British pound (GBP), Euro (EUR), and Japanese yen (JPY). Additionally, we will offer insights into what we can expect from the rupee in today’s trading session.

Date- Aug 30, 2023

Place- New Delhi, India


USD/INR: Uptick in Opening Ahead of Trading

The USD/INR currency pair is exhibiting a slight uptick in its pre-market performance today. Opening at 82.6950, the pair reached a high of 82.77 and a low of 82.6650. It stands above its previous close of 82.7675, reflecting a positive sentiment in early trading. The volume stands at 56,963, with a value of 47,114.69 lakh. Open interest (OI) is at 81.942, showing a decrease of 3,778 (-4.41%) from the previous session. The pair’s volume-weighted average price (VWAP) is at 82.7110, while the spot price sits at 82.7475.

GBP/INR: Early Gains After Opening

The GBP/INR currency pair is starting the pre-market session with early gains. Opening at 104.3700, it achieved a high of 104.5175 and a low of 104.3625. This movement comes after closing at 104.2200 previously. Trading volume stands at 1,787, with a corresponding value of 1,866.43 lakh. Open interest (OI) is at 2,256, reflecting a decrease of 564 (-20.00%) from the last session. The VWAP for the pair is at 104.4450, while the spot price opens at 104.4896.

EUR/INR: Positive Start with Early Momentum

The EUR/INR currency pair is off to a positive start in today’s pre-market trading. Opening at 89.8100, it reached a high of 89.9575 and a low of 89.8075. This follows a previous close of 89.4850. The trading volume stands at 3,560, with a value of 3,200.63 lakh. Open interest (OI) is at 2,211, indicating a decrease of 201 (-8.33%) from the last session. The VWAP for the pair is at 89.9052, and the spot price is recorded at 89.9018.

JPY/INR: Early Uptrend with Trading Commencement

The JPY/INR currency pair displays an early uptrend as trading begins in the pre-market session. It opened at 56.5800 and attained a high of 56.62, with a low of 56.5100. This comes after closing at 56.3875 previously. The trading volume stands at 1,249, with a value of 707.30 lakh. Open interest (OI) stands at 6,247, showing a decrease of 588 (-8.60%) from the previous session. The VWAP for the pair is at 56.6292, and the spot price opens at 0.5662.



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