February 19, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.0275 down by -0.04%. The day’s range for USDINR was a high of ₹83.06 and a low of 83.03 The Rupee remains in range amidst significant foreign currency influx and repeated hawkish guidance from the RBI. Meanwhile, US retail sales shrink in January, and India records a trade deficit of $17.5 billion in January 2024, the lowest in nine months.
EURINR
The last traded price of EURINR was 89.4875 up by 0.28%. The day’s range for EURINR was a high of ₹89.51 and a low of 89.37 The Euro gains ground as investors digest cautious sentiments regarding monetary policy easing from various ECB officials. The EU economy enters 2024 on a weaker footing than expected, lowering the growth outlook for the year. However, the Eurozone posts a €16.8 billion trade surplus in December 2023.
GBPINR
The last traded price of GBPINR was 104.5625 up by 0.25%. The day’s range for GBPINR was a high of ₹104.69 and a low of 104.46. GBP eases from highs as the UK economy enters a recession in the second half of 2023. Latest inflation data shows more downward pressure than expected, according to BOE’s Bailey, while business investment in the UK unexpectedly increases by 1.5% in the fourth quarter of 2023.
JPYINR
The last traded price of JPYINR was 55.3400 down by -0.16%. The day’s range for JPYINR was a high of ₹55.38 and a low of 55.30 The JPY attracts some follow-through buying amidst intervention fears, as the Japanese economy unexpectedly contracts 0.4% on an annualized basis during the fourth quarter of 2023. Japan’s GDP also unexpectedly shrinks 0.1% QoQ in Q4 of 2023, missing market forecasts of a 0.3% growth.
