Welcome to today’s daily report on the performance of the Indian Rupee (INR) in various currency exchange segments. In this report, we will analyze the opening and closing rates of the INR against four major currencies, namely the Euro (EUR), British Pound (GBP), Japanese Yen (JPY), and United States Dollar (USD).
By examining these rates, we aim to provide valuable insights into the trends and fluctuations of the INR in the global foreign exchange market. Let’s look at each segment to gain a deeper understanding of the rupee’s performance.
Opening at 89.40 and closing at 89.02, the EURINR pair experienced a slight appreciation of the Indian Rupee (INR) against the Euro (EUR) during the trading session. Factors such as economic indicators, geopolitical events, and market sentiment influenced the performance of this currency pair. Analyzing the fluctuations and trends of EURINR can provide insights into the strength of the Indian economy and its relationship with the Eurozone.
With an opening rate of 104.65 and a closing rate of 104.01, the GBPINR pair witnessed a significant appreciation of the INR against the British Pound (GBP) during the trading session. Macroeconomic factors, monetary policies, and market dynamics between the UK and India played a crucial role in determining the performance of this currency pair. Monitoring GBPINR can offer valuable information about the economic ties between the two countries.
Starting at 58.48 and closing at 58.29, the JPYINR pair demonstrated relative stability during the trading session. The INR exhibited resilience against the Japanese Yen (JPY), indicating its strength in the global foreign exchange market. Understanding the factors influencing JPYINR fluctuations, such as interest rates, economic indicators, and global market conditions, can provide insights into the dynamics between the Indian and Japanese economies.
Opening at 82.03 and closing at 82.20, the USDINR pair experienced a marginal depreciation of the INR against the United States Dollar (USD). Factors such as economic data, monetary policies, and geopolitical events influenced the performance of this currency pair. Monitoring USDINR can provide valuable information about the Indian economy’s relationship with the US, as well as the impact of global factors on the rupee’s strength in the foreign exchange market.
Please note that the information provided by CurrencyVeda in this report is intended for educational purposes only. It is essential to understand that currency exchange rates are subject to various factors and can be highly volatile. The data presented in this report should not be considered financial advice or a basis for making investment decisions. It is always recommended to consult with a professional financial advisor before engaging in any currency trading activities. CurrencyVeda does not guarantee the accuracy or completeness of the information provided in this report and shall not be held liable for any losses or damages incurred as a result of its use.