December 28, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.3600 up by 0.19%. The day’s range for USDINR is a high of ₹83.37 and a low of 83.20
Rupee weakened as dollar demand from importers, including local oil companies, eroded the impact of positive global cues. India’s current account deficit narrowed to USD 8.3 billion in the July-September 2023 quarter. Fiscal deficit at 6% to exceed government target in FY24, according to Ind-Ra.
GBPINR
The last traded price of GBPINR was 106.0400 up by 0.44%. The day’s range for GBPINR is a high of ₹106.27 and a low of 105.57
GBP dropped as Q3 data showed a contraction in the British economy. The CPI report showcased a slowdown in UK inflation to 3.8%, below the projected 4.4%. The core inflation rate dropped to 5.1%, lower than the expected 5.6%.
EURINR
The last traded price of EURINR was 92.1500 up by 0.59%. The day’s range for EURINR is a high of ₹92.31 and a low of 91.73
Euro remained in range after fresh PCE inflation for the US reinforced bets the Fed will start cutting interest rates next year. Traders also anticipate the ECB to decrease borrowing costs next year, possibly aligning with the Fed’s pace. Euro zone consumer confidence rose by 1.8 points in December from the November number.
JPYINR
The last traded price of JPYINR was 58.4925 down by -0.03%. The day’s range for JPYINR is a high of ₹58.59 and a low of 58.42
JPY dropped despite Bank of Japan Governor Kazuo Ueda’s latest remarks alluding to progress on inflation. Ueda said the likelihood of Japan’s economy getting out of the low-inflation environment. Japan’s unemployment rate stood at 2.5% in November 2023, unchanged from the previous month.
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