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USDINR

USDINR trading range for the day is 82.56-82.96.

Rupee remained in range as India cenbank cannot prematurely pause rate tightening cycle

The MPC is mandated to bring retail inflation down to 4% over the medium term while keeping it within the target band of 2%-6%.

The dollar faced pressure from fears that further monetary tightening from Fed could tip the world’s largest economy into recession next year

EURINR

EURINR trading range for the day is 87.74-88.28.

Euro remained in range as investors continue to assess hawkish central bank outlooks, from the ECB and a looming recession in Europe.

The central bank also revised its inflation forecasts higher while the growth outlook was revised sharply lower.

Fresh PMIs for December showed private sector activity in the Euro Area shrank at the slowest pace in four months

GBPINR

GBPINR trading range for the day is 99.45-100.68.

GBP dropped after data showed the British economy contracted slightly more than expected.

The current account deficit in the UK shrank to GBP 19.4 billion or 3.1% of the GDP in the third quarter of 2022

The British economy expanded 1.9% year-on-year in the third quarter of 2022, below a preliminary estimate of a 2.4% rise.

JPYINR

JPYINR trading range for the day is 62.44-63.04.

JPY dropped on profit booking after BOJ unexpectedly raised the upper limit of its tolerance band on 10-year government bonds to 0.5%

The BOJ’s move to tighten policy came sooner-than-expected, reflecting ongoing pressure from central banks around the world.

Japan govt revises up fiscal 2023 growth forecast on higher capex, wages

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