Published on 30/09/2022 10:43:58 AM | Source: Kedia Advisory

EURINR trading range for the day is 79.09-80.39 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR trading range for the day is 81.52-82.46.

Rupee closed slightly higher after a choppy session in which the Reserve Bank of India likely sold dollars to support the local currency.

Icra maintains 7.2 per cent GDP forecast for FY23

S&P Global Ratings retained India's economic growth projection at 7.3% in the current fiscal with downside risks



EURINR trading range for the day is 79.09-80.39.

Euro seen supported after ECB officials reiterated their hawkish stance, advocating a 75-bps-rate hike at the next policy meeting.

The ECB already started the tightening cycle by raising key interest rates by 125bps since July and pledging to continue to increase the borrowing cost

ECB President Lagarde recently reinforced the central bank must keep raising interest rates to tame inflation



GBPINR trading range for the day is 87.75-90.09.

GBP recovered after prices seen pressure as investors worry over a new tax cut plan, soaring debt levels, high prices and a looming recession.

UK PM Truss says her economic plan was needed to tackle difficult problems

UK car production up for fourth straight month



JPYINR trading range for the day is 56.68-57.18.

JPY dropped as hawkish remarks from Fed and the rejection of a possible currency agreement among major economies supported the dollar.

BOJ board agreed must be vigilant to sharp yen moves

Japanese Finance Minister Shunichi Suzuki issued a fresh warning about the weakening yen, saying that authorities stood ready to respond



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