IGI Logo

USDINR

Observations

USDINR trading range for the day is 82.37-82.65

Rupee traded higher on expectations that Fed will hold pat on interest rates this week.

The annual inflation rate in India fell to 4.25% in May of 2023 from 4.7% in the previous month, the lowest since

April 2021 India's foreign exchange reserves saw a rise of $5.929 billion and stood at $595.067 billion

EURINR

Observations

EURINR trading range for the day is 88.47-89.23

Euro remained supported as investors look ahead to monetary policy decisions from major central banks this week.

Money markets still price in an ECB depo rate around 3.8% by autumn, with November 2023

ECB euro short-term rate (ESTR) forwards at 3.7%.

The euro zone economy fell into a technical recession in the first three months of 2023

GBPINR

Observations

GBPINR trading range for the day is 103.35-103.97

GBP rose as the BOE remains committed to tightening monetary policy in order to combat high inflation.

Bank of England can't rule out more rate rises, MPC's Haskel says

The Bank of England is expected to raise interest rates to 4.75% on June 22 and reach a peak of 5.5% by year-end.

JPYINR

Observations

JPYINR trading range for the day is 59.27-59.63

JPY remained in range ahead of the Bank of Japan’s policy meeting this week

The central bank also may signal that inflation is overshooting its forecasts

Japan's wholesale inflation eases, goods close to consumers continue to rise

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer