October 3, 2023
New Delhi, India
The USDINR pair traded at 83.0750 on the last session, marking a decrease of -0.17% from the previous close. The trading range for USDINR is between ₹83.05 and ₹83.19, with a total traded volume of 200,880 lots. USDINR rates have shown a slight increase of 0.34% over the last month and 0.98% over the last three months.
The attractiveness of the US dollar has risen due to elevated interest rates, with yields on assets like certificates of deposit (CDs) and money market funds exceeding 5.50%. This has led to increased demand for the US dollar among investors, including those from India.
The next significant catalyst for the USDINR pair will be the Reserve Bank of India’s (RBI) upcoming interest rate decision scheduled for Friday this week. Economists anticipate that the bank will likely maintain rates unchanged at 6.50% and the cash reserve ratio at 4.50%.
GBPINR traded at 101.12, showing a gain of 0.41% from the previous. The daily trading range for GBP against INR can be between ₹101.54 and ₹101.95, with a total traded volume of 11,240 lots. Over the past month, GBPINR rates have decreased by -4.01%, and over the last three months, they have exhibited the same -4.01% decrease.
EURINR last traded at 88.12,marking a rise of 0.41% from the previous close. The trading range for EURINR range from ₹87.90 to ₹88.23, with a total traded volume of 6,384 lots. EURINR rates have experienced a decline of -4.81% over the past month and the last three months.
JPYINR was traded at 55.75 ,showing a decrease of -0.09% from it’s previous close of 55.8025. The trading range for JPY against INR is extended from ₹55.65 to ₹55.97, with a total traded volume of 3,713 lots. JPYINR rates have fallen by -6.50% over the last month and the last three months.