Indian Rupee Against Major Currency Pairs: Market Highlights

EUR/USD post daily gains

February 22, 2023

New Delhi, India


The last traded price of USDINR was 82.9200 down by -0.06%. The day’s range for USDINR was a high of ₹82.95 and a low of 82.92 . The Rupee ends little changed as dollar demand from importers counteracts supportive global cues. US producer prices rise significantly in January, leading to lower USD/INR forward premiums.


The last traded price of GBPINR was 104.8675 up by 0.20%. The day’s range for GBPINR was a high of ₹104.87 and a low of 104.78. GBP gains momentum as UK retail sales rise significantly, rebounding by 3.4% month-over-month in January 2024. BOE’s Bailey expresses encouragement over recent inflation figures and early indications of economic resurgence in the UK.


The last traded price of EURINR was 89.8375 up by 0.24%. The day’s range for EURINR was a high of ₹89.86 and a low of 89.76. The Euro gains ground as investors digest cautious sentiments regarding monetary policy easing from various ECB officials. Germany’s wholesale prices fall in January 2024, while ECB’s Schnabel suggests Eurozone’s low productivity may slow inflation’s decline.


The last traded price of JPYINR was 55.2000 down by -0.24%. The day’s range for JPYINR was a high of ₹55.21 and a low of 55.14. The JPY drops as investors assess the economic and monetary policy outlook in the US. Japan’s Suzuki highlights the government’s close monitoring of FX moves for currency stability, amidst Japan’s unexpected economic contraction and entry into recession in the fourth quarter.

Also read our latest pick: UK And Japan’s Recession: Why Major Economies Are Facing Economic Downturn?


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