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USDINR

Observations

USDINR trading range for the day is 81.76-82.42 Rupee declined on likely corporate outflows and importer demand for the greenback Current account deficit manageable: RBI Governor Das India's forex reserves snap 2-week rise, down $380 million

EURINR

Observations

EURINR trading range for the day is 89.12-90.08 Euro remained supported amid expectations the European Central Bank will keep raising interest rates in the coming months ECB’s Knot said it was unclear to him if a rate hike of 50 bps was necessary in May, or if a scale back to a lower 25 bps was a possibility Markets have fully priced in a 25 bps increase in the 3% deposit rate on May 4 and see another 25 bps move by mid-year.

GBPINR

Observations

GBPINRGBPINR trading range for the day is 101.48-102.64 GBP gains as a stronger-than-expected economy, aided by falling energy prices, has provided some support. Retail sales in the United Kingdom rose 4.9% on a like-for-like basis in March 2023 from a year ago Investors broadly think the Bank of England will raise interest rates further to combat inflation.

JPYINR

Observations

JPYINR trading range for the day is 61.53-62.11 JPY dropped as new BOJ Governor Ueda signaled there would be no significant changes to monetary policy. Japan machine tool orders drop 15.2% YoY Japan services sentiment rises to 15-month peak

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