EURINR trading range for the day is 86.61-87.39 - Kedia Advisory
USDINR
* USDINR trading range for the day is 82.04-82.6.
* Rupee finished 1.2% lower for the week, bruised by sustained dollar demand by corporates, despite notching gains on Friday.
* India inflation likely softened to nine – month low in November
* Lower crude prices and a weaker dollar have kept oil companies bidding for greenback via state-run banks through the week.
EURINR
* EURINR trading range for the day is 86.61-87.39.
* Euro gains benefitting from a dollar weakness amid hopes the Fed will slow the pace of interest rate increases.
* ECB Lane told he is confident inflation is close to peak and that more rate increases will be necessary
* Euro zone banks must keep down stock of bad loans in downturn, ECB says
GBPINR
* GBPINR trading range for the day is 100.37-101.39.
* GBP remained supported as investors await major central bank policy meetings next week, including the Bank of England (BoE).
* The BoE is expected to add another 50 basis points to Bank Rate next week, despite the economy falling into recession.
* The British public's expectations for inflation over the medium term edged up last month.
JPYINR
* JPYINR trading range for the day is 60.2-61.
* JPY gained amid BOJ Kuroda recently stated that it was too early to discuss the chance of reviewing the central bank’s monetary policy framework
* Kuroda has constantly insisted on the need to maintain the bank's massive stimulus until wages rise enough to make up for the rising cost of living.
* Japan upgrades Q3 GDP as global recession, COVID risks linger
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory