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 31, 2023
Place- New Delhi, India
The USD/INR currency pair opened at 82.70, with a high of 82.70 and a low of 82.59, compared to its previous close at 82.73. The trading volume for this pair stands at 68,407, reflecting strong market activity. The Open Interest (OI) witnessed a significant increase of 24,973 contracts, indicating heightened trader interest. The VWAP (Volume-Weighted Average Price) is calculated at 82.65. As of the latest update, USD/INR is trading around 82.59.
GBP/INR started the session at 105.12, with its high and low at 105.17 and 105.03 respectively. The pair’s previous closing price was 104.75. Trading volume reached 1,295, showcasing moderate participation. The OI decreased by 50 contracts, implying some reduction in open positions. The VWAP is reported at 105.14. At present, GBP/INR is trading around 105.05.
EUR/INR initiated trading at 90.27, reaching a high of 90.29 and a low of 90.19, compared to its previous close at 90.07. The trading volume for this pair is 562. The OI dropped by 39 contracts, suggesting a slight reduction in open positions. The VWAP is calculated at 90.27. Currently, EUR/INR is trading around 90.20.
JPY/INR began the session at 56.68, with its high and low at 56.69 and 56.57 respectively. The pair’s previous closing price was 56.56. The trading volume reached 2,715. The OI witnessed a notable decrease of 1,837 contracts, indicating a decrease in open positions. The VWAP is reported at 56.66. As of the latest update, JPY/INR is trading around 56.58.
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