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USDINR

USDINR trading range for the day is 81.57-82.05.

Rupee declined weighed by the dollar index's jump and the Chinese yuan's weakness.

Goldman Sachs sees India’s growth slowing next year, cuts GDP forecast

Concerns over China's economic outlook dampened risk appetite, boosting demand for the safe-haven dollar.

EURINR

EURINR trading range for the day is 83.18-84.84.

Euro dropped as investors continued to grapple with rising global interest rates and growing recession risks

Investors also assessed the economic outlook in the euro area and the likely path for European Central Bank monetary policy.

ECB President Lagarde said that the central bank would keep hiking rates and may even need to restrict growth to rein in inflation.

GBPINR

GBPINR trading range for the day is 96.06-97.52.

GBP dropped as investors dumped riskier currencies on the prospect of weakening global growth and the return of tougher restrictions in China.

Data showed retail sales rose 0.6% in October, well above market expectations of a 0.3% gain.

Chancellor Jeremy Hunt said the UK is already in recession and the OBR forecasted the British economy to shrink by 1.4% in 2023.

JPYINR

JPYINR trading range for the day is 57.17-58.77.

JPY dropped weighed down by a rebounding dollar which benefited from haven demand amid fresh Covid outbreaks in China

BOJ Governor Kuroda stressed the need to maintain ultra-loose monetary policy to support the economy in the wake of the hot inflation reading

Annual core consumer prices in Japan surging to a 40-year high of 3.6% in October

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