February 2, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 82.8850 down by -0.16%. The day’s range for USDINR is a high of ₹82.95 and a low of 82.86
The Rupee remains steady, benefitting from foreign portfolio inflows. The Indian economy showcases resilience amidst global challenges, driven by robust domestic demand. The Finance Ministry’s optimism positions India on track to become the world’s third-largest economy.
GBPINR
The last traded price of GBPINR was 105.6500 up by 0.72%. The day’s range for GBPINR is a high of ₹105.67 and a low of 105.60
The British Pound remains within a range as investors await monetary policies from the Fed and BOE. BoE policymakers confront challenges of high inflation and a bleak economic outlook. The Fed is anticipated to clarify its approach to a 75 basis points rate reduction in 2024.
EURINR
The last traded price of EURINR was 90.1700 up by 0.48%. The day’s range for EURINR is a high of ₹90.24 and a low of 90.17
The Euro faces a drop as investors anticipate a potential 25 basis points rate cut by the ECB in April. German challenges cast a shadow on central Europe’s recovery prospects. ECB’s de Guindos remarks on inflation risks being lower than expected, while the central bank maintains rates despite softening economic growth indicators.
JPYINR
The last traded price of JPYINR was 56.6900 up by 0.11%. The day’s range for JPYINR is a high of ₹56.71 and a low of 56.63
The Japanese Yen gains ground amid fears of escalating conflicts in the Middle East. Japan’s economic indicators reveal a decline in November, signaling a struggling post-pandemic recovery and elevated inflation. Revised leading economic indicators suggest a less optimistic economic outlook for the coming months.
