February 9, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.0375, up by 0.04%. The day’s range for USDINR was between ₹82.98 and ₹83.04. The Rupee strengthened on dollar sales from foreign banks, while Fitch highlights the challenge of achieving the fiscal deficit target. The Reserve Bank of India remains active in the currency market.
GBPINR
The last traded price of GBPINR was 104.7100, up by 0.01%. The day’s range for GBPINR was between ₹104.66 and ₹104.71. GBP gains momentum as fears of a UK recession diminish on expectations of early BoE rate cuts. BoE’s Breeden expresses confidence, while the Halifax House Price Index shows growth.
EURINR
The last traded price of EURINR 89.5000, up by 0.09%. The day’s range for EURINR was between ₹89.43 and ₹89.51. The Euro rebounds as investors assess the global monetary policy outlook, despite German industrial output declining and Eurozone consumers adjusting their inflation expectations.
JPYINR
The last traded price of JPYINR 55.6650, down by -0.08%. The day’s range for JPYINR was between ₹55.54 and ₹55.67. The JPY strengthens as the dollar pulls back, despite a slight decrease in Japan’s reserve assets. Japan’s leading economic indicators show positive growth in December 2023.
