09-08-2023 10:12 AM | Source: Kedia Advisory
EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
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USDINR trading range for the day is 83.09-83.37.

Rupee ended at lower as elevated U.S. treasury yields and weakness in other Asian currencies weighed

The Reserve Bank of India is likely paying in rupee forwards across various deliveries via public sector banks.

India’s external debt declined to 18.9 percent of GDP at the end of March 2023 from 20 per cent last year

SELL USDINR SEP @ 83.35 SL 83.5 TGT 83.18-83.02




EURINR trading range for the day is 89.13-89.49.

Euro dropped weighed down by weak global sentiment

ECB officials recently warned that further rate increases are still on the table as inflationary pressures persist

Industrial production in Germany shrank by 0.8% month-over-month in July 2023

SELL EURINR SEP @ 89.4 SL 89.6 TGT 89.15-89




GBPINR trading range for the day is 103.49-104.25.

GBP slipped instigated by remarks from Bank of England Governor Andrew Bailey during his appearance before UK Parliament.

Bailey stated that the central bank was approaching the conclusion of its string of interest rate hikes

UK businesses report lower inflation expectations: BoE

BUY GBPINR SEP @ 103.7 SL 103.4 TGT 104.05-104.25




JPYINR trading range for the day is 56.52-56.86.

JPY steadied as BOJ’s Nakagawa said the central bank must keep its ultra-loose monetary policy

Japan leading economic index at 21-month low

Japan's Kanda has stated that the country will not rule out any options in the currency markets due to the sharp yen depreciation

BUY JPYINR SEP @ 56.4 SL 56.2 TGT 56.7-56.9.


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