Dollar vs Rupee: Currency Market Analysis Today

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January 30, 2023

New Delhi, India


The last traded price of USDINR was 83.1500 down by -0.04%. The day’s range for USDINR is a high of ₹83.17 and a low of 83.15

The Indian Rupee ended little changed, with market participants awaiting fresh cues for directional momentum. In the U.S., core Personal Consumption Expenditures (PCE) prices rose by 2.9% on a year-on-year basis in December, marking the lowest increase since March 2021. Despite forecasts of 2%, the U.S. economy expanded by 3.3% in the fourth quarter, surpassing expectations.


The last traded price of GBPINR was 105.6550 down by -0.02%. The day’s range for GBPINR is a high of ₹105.71 and a low of 105.65

The British Pound steadied after the UK Composite PMI rose to 52.5 in January, the highest in seven months. However, UK retail sales experienced a sharp decline, elevating the risk of a recession in Q4. On a positive note, the UK’s growth momentum improved, driven by expansion in the services sector.


The last traded price of EURINR was 90.0800 up by 0.02%. The day’s range for EURINR is a high of ₹90.16 and a low of 90.05

The Euro faced a decline as eurozone business activity contracted in January. The European Central Bank (ECB) opted to keep interest rates unchanged at record-high levels, pledging to maintain restrictive measures to bring inflation back to the 2% target.


The last traded price of JPYINR was 56.4775 up by 0.24%. The day’s range for JPYINR is a high of ₹56.52 and a low of 56.48

The Japanese Yen faced a drop as the dollar index stabilized, with investors eagerly anticipating fourth-quarter gross domestic product data. The Bank of Japan’s (BoJ) hawkish tilt could potentially act as a tailwind for the Japanese Yen, especially amid subdued U.S. Dollar price action. Japan’s top currency diplomat, Masato Kanda, stated that he closely monitored central bank decisions.

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