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Published on 19/04/2021 10:16:13 AM | Source: Kedia Advisory

USDINR trading range for the day is 73.94-75.48 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

USDINR trading range for the day is 73.94-75.48.

USDINR dropped on profit booking from 9 month highs amid concerns about rising COVID-19 cases and their impact on the economy's pace of recovery.

According to global rating agency Moody’s, the second wave of coronavirus infections is credit-negative and poses threat to economic recovery in India.

The partially convertible rupee was at 75.14/15 per dollar, as of 0710 GMT, after touching 75.32, its lowest since July 15 last year.

 

EURINR

EURINR trading range for the day is 88.76-89.92.

Euro dropped as firmness in Rupee weighed and also German economy probably shrank 1.8% in first quarter due to lockdown

ECB Vice President Luis de Guindos told that the central bank will act on any "detrimental" rise in borrowing costs until the coronavirus pandemic is over.

Economy Minister Peter Altmaier said he did not expect the economy to reach pre-pandemic levels before the end of the year.

 

GBPINR

GBPINR trading range for the day is 101.82-103.58.

GBP dropped as firmness in rupee weighed and an expected reduction in the UK's Covid vaccine supply raised doubts

BoE's Tenreyro says removing policy support too early could be costly

British lenders expect demand for secured lending as well as the availability of secured credit to households to increase in the next three months to end-May

 

JPYINR

JPYINR trading range for the day is 68.03-69.11.

JPY dropped amid firmness in rupee and the recovery was likely to be modest due to lingering caution over the coronavirus pandemic

BOJ's Kuroda signals room to debate monetary policy role in climate change

Japan core machine orders plummet 8.5% on month in February

 

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