January 3, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.3300 up by 0.11%. The day’s range for USDINR was a high of ₹83.36 and a low of 83.27.
The rupee remained within a stable range amid growing expectations of the U.S. Federal Reserve easing its monetary policy cycle. India’s fiscal deficit for April to November stood at 9.07 trillion rupees. RBI Governor Das highlighted India’s position as one of the world’s fastest-growing major economies with a rising potential growth profile.
GBPINR
The last traded price of GBPINR was 105.6850 down by -0.21%. The day’s range for GBPINR was a high of ₹106.34 and a low of 105.60.
GBP weakened as concerns about a technical recession in the UK economy intensified. ONS data indicated a 0.1% contraction in the economy in Q3 2023. The Bank of England does not anticipate growth in the final quarter, raising the likelihood of a technical recession.
EURINR
The last traded price of EURINR was 91.5225 down by -0.54%. The day’s range for EURINR was a high of ₹92.02 and a low of 91.52.
The Euro declined as an increase in 7-year U.S. Treasuries prompted a shift toward the safe-haven USD. Italy’s Economy Minister, Giancarlo Giorgetti, clarified there is no disagreement between Italy and its EU partners over the eurozone bailout fund. Consumer sentiment in the European Union as a whole rose by 1.5 points to -16.0.
JPYINR
The last traded price of JPYINR was 58.8100 down by -0.02%. The day’s range for JPYINR was a high of ₹58.98 and a low of 58.78.
JPY declined, influenced by the Bank of Japan’s commitment to maintaining massive stimulus. BOJ Governor Kazuo Ueda highlighted the challenge of Japan’s economy escaping the low-inflation environment. Retail sales in Japan rose 5.3% YoY in November, marking the first acceleration in three months.
