Rupee vs Dollar: Currency Market Analysis Today

Indian Rupee

December 14, 2023

New Delhi, India


The last traded price of USDINR was 83.4225 up by 0.05%. The day’s range for USDINR is a high of ₹83.44 and a low of 83.38 Rupee (USDINR) maintained a tight range amid elevated capital outflows and the anticipation of potential intervention by the Reserve Bank of India (RBI). The U.S. annual inflation rate slowed to 3.1% in November, aligning with market expectations, while India experienced a surge in retail inflation to 5.5% in November from 4.8% in October.


The last traded price of GBPINR was 104.4125 down by -0.41%. The day’s range for GBPINR is a high of ₹104.75 and a low of 104.37. Concerning the British Pound (GBPINR), it declined as investors processed a series of economic data, eagerly anticipating the outcome of the upcoming Bank of England policy meeting. The latest UK jobs report revealed a slowdown in total pay growth to 7.2% in the three months leading up to October. The Bank of England is anticipated to maintain interest rates at a 15-year high during its final meeting of 2023.


The last traded price of EURINR was 89.9300 down by -0.16%. The day’s range for EURINR was a high of ₹90.04 and a low of 89.92. In the Euro to Indian Rupee (EURINR) market, the Euro gained support after the ZEW Indicator of Economic Sentiment for Germany rose to 12.8 in December. Additionally, the ZEW Indicator for the Euro Area showed a notable increase of 9.2 points to 23 in December. European Central Bank (ECB) President Lagarde emphasized that PEPP (Pandemic Emergency Purchase Programme) reinvestments serve as the primary defense against any unwarranted widening of yield spreads within the eurozone.


The last traded price of JPYINR was 57.2925 down by -0.26%. The day’s range for JPYINR was a high of ₹57.35 and a low of 57.17. The Japanese Yen gained ground as traders adjusted expectations for a potential rate hike in Japan. Producer prices in Japan rose by 0.3% year-on-year in November 2023. Bank of Japan (BOJ) Governor Kazuo Ueda discussed various options and scenarios should the central bank decide to initiate a gradual increase in interest rates.