Rupee vs Dollar: Currency Market Highlights

Post Market Currency Update

January 9, 2023

New Delhi, India


The last traded price of USDINR was 83.1600 down by -0.01%. The day’s range for USDINR was a high of ₹83.18 and a low of 83.07.

The rupee closed stronger, supported by dollar inflows, while its Asian peers slipped. The US economy added 216,000 jobs in December, surpassing expectations and signaling positive economic momentum. The S&P Global India Composite PMI rose to 58.5 in December, reflecting a robust performance.


The last traded price of GBPINR was 105.6650 up by 0.38%. The day’s range for GBPINR was a high of ₹105.72 and a low of 105.43.

The pound remained under pressure as investors anticipated a mild recession in the United Kingdom. The Halifax House Price Index rose by 1.7% year-on-year in December 2023, providing mixed signals about the UK’s economic conditions. The S&P Global UK Construction PMI increased to 46.8 in December, up from November’s 45.5.


The last traded price of EURINR was 91.0325 up by 0.20%. The day’s range for EURINR was a high of ₹91.09 and a low of 90.86T.

The euro fluctuated as investors weighed recent inflation and PMI data’s impact on monetary policy. Inflation in the Euro Area reached 2.9%, slightly lower than the expected 3%, primarily driven by energy base effects. Retail sales in Germany saw a significant decline of 2.5% month-over-month in November 2023, marking the largest drop since April 2022.


The last traded price of JPYINR was 57.6250 up by 0.50%. The day’s range for JPYINR was a high of ₹57.74 and a low of 57.51.

The Japanese yen depreciated amid reduced bets for a Bank of Japan (BoJ) policy shift in January. The au Jibun Bank Japan Services PMI was revised lower to 51.5 in December, indicating a moderate expansion, while the au Jibun Bank Japan Composite PMI was revised downward to 50.0, signaling stabilization in overall economic activity.

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