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USDINR

USDINR trading range for the day is 75.91-76.47

USDINR rose as an uptick in crude oil prices fanned fears of imported inflation and higher trade and current account deficits.

Oil prices impact India’s current account deficit and trade balance significantly as the country imports two-thirds of its oil needs

India's factory growth accelerated in Feb, inflation remains a concern

EURINR

EURINR trading range for the day is 83.85-84.55.

Euro gained as the odds are rising the ECB will raise interest rates this year and traders continue to follow developments around Russia-Ukraine ceasefire talks.

Euro zone trade deficit widens as energy import cost surges

Money markets are pricing in 44 basis points of ECB rate increases by year-end

GBPINR

GBPINR trading range for the day is 100.01-100.43.

GBP steadied after the BoE lifted interest rates to pre-covid levels as expected during its March 2022 meeting

UK consumer spending in line with pre – pandemic level – ONS

Bank of England raises rates to 0.75%, less sure about future moves

JPYINR

JPYINR trading range for the day is 63.76-64.35

JPY dropped as BOJ maintained its massive stimulus and warned of heightening risks to a fragile economic recovery from the Ukraine crisis.

The Bank of Japan kept its key short-term interest rate unchanged at -0.1%

BoJ's Governor Kuroda: BoJ will keep easing on a massive scale.

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