December 13, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.3825, down by -0.01%. The day’s range for USDINR was a high of ₹83.40 and a low of 83.36. The rupee settled little changed, supported by likely U.S. dollar sales by the RBI. Rupee forward premiums declined, with the 1-year implied yield falling to 1.60%. RBI upgraded the forecast for the current fiscal year 2023-2024 to 7% from 6.5% previously.
GBPINR
The last traded price of GBPINR was 104.8400, down by -0.03%. The day’s range for GBPINR was a high of ₹104.93 and a low of 104.62. GBP dropped as investors eagerly anticipated the BOE’s upcoming policy meeting. The Bank of England looks set to stick to its tough line against talk of interest rate cuts in Britain. Britain’s inflation rate has dropped from a 41-year high of 11.1% just over a year ago.
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EURINR
The last traded price of EURINR was 90.0775, up by 0.26%. The day’s range for EURINR is a high of ₹90.14 and a low of 89.80. The euro dropped on an extended US Dollar rally ahead of this week’s key macroeconomic data releases and central bank meetings. German inflation rate confirmed at nearly a 2-½ year low. Eurozone retail sales rose very slightly in October, after three consecutive months of decline.
JPYINR
The last traded price of JPYINR was 57.4350, up by 0.60%. The day’s range for JPYINR is a high of ₹57.46 and a low of 57.20. JPY dropped as the dollar strengthened after stronger-than-expected US jobs data. Japan’s machine tool orders declined 13.6% year-on-year to JPY 115,884 million in November 2023. The business survey index of large manufacturing firms in Japan rose to 5.7% in the fourth quarter of 2023 from 5.4% in the third quarter.
Also Read: India’s Forex Reserves Soar Beyond $600 Billion Mark, Indicating Economic Resilience
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