February 13, 2023
New Delhi, India
The last traded price of USDINR was 83.0300 up by 0.01%. The day’s range for USDINR is a high of ₹83.04 and a low of 82.99. The Rupee weakens due to dollar demand from importers, including local oil companies. In the US, the Consumer Price Index increased in December 2023, while the RBI pegs GDP growth at 7% in FY25 amid corporate investments.
The last traded price of GBPINR was 104.6950 down by -0.07%. GBP gains ground as policymakers push back against expectations for early rate cuts. BOE’s Breeden considers the duration of current interest rate levels, while British house prices rise by 2.5% year-on-year in January, the strongest growth rate in a year.
The last traded price of EURINR was 89.3875 down by -0.08%. The Euro rebounds as major central banks in Europe and the US maintain a cautious approach towards potential rate cuts. German consumer price inflation confirms at 2.9% year-on-year in January 2024, while ECB’s Schnabel emphasizes patience in considering interest rate adjustments.
The last traded price of JPYINR was 55.5725 down by -0.33%. The JPY weakens against the dollar as recent data suggests the Fed is not ready for rate cuts. BOJ Gov Ueda mentions the likelihood of easy money conditions persisting even if negative rates end, while the IMF urges the BOJ to end bond yield control and asset buying.