Indian Rupee Weakens Amidst Elevated Yields and Crude Prices

Indian Rupee

New Delhi, India

September 26, 2023


The Indian Rupee may face continued pressure as it weakened by 0.26% against the U.S. dollar in the previous session, quoting at 83.14 per dollar. Elevated U.S. Treasury yields and higher crude oil prices could contribute to further depreciation.

The day’s trading range for USDINR included a high of ₹83.16 and a low of ₹83.03.

The benchmark 10-year bond remained stable at 100.17 rupees, with a yield of 7.1541%. The initial optimism regarding the inclusion of domestic bonds in JPMorgan’s index has faded. The focus is now on upcoming debt supply and elevated U.S. yields.


GBPINR traded at 101.8025, up 0.09%. The day’s range was between ₹101.57 and ₹101.86. Over the last three months, GBPINR rates have fallen by -5.48%.

GBPINR exhibited a slight uptrend, and it is essential to monitor its performance as it recently hit a three-month low. Market sentiment may continue to influence this pair.


EURINR closed at 88.4950, marking a 0.17% increase. The trading range for the day was ₹88.37 to ₹88.60. EURINR rates have seen a decline of -4.30% over the last three months.

EURINR has shown some recovery, but its recent downward trend warrants attention. Factors such as European Central Bank announcements and economic data releases may impact its movement.


JPYINR’s last traded price  was 56.0350, showing a decrease of -0.16%. The trading range for the day ranged from ₹56.04 to ₹56.20. Over the last three months, JPYINR rates have fallen by -6.86%.

JPYINR is fluctuating, and its three-month performance indicates a significant decline. Keep an eye on Japanese economic indicators and global market trends for potential insights into its trajectory.