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USDINR

Observations

USDINR trading range for the day is 82.7-82.92 Rupee dropped amid prolonged concerns of tighter monetary conditions as major central banks battle inflation. India’s Finance Minister Nirmala Sitharaman, underscored that the government and the RBI will take necessary steps to lower inflation to a healthy range. The country's annual retail inflation rate hit 6.52% in January, above the central bank's upper tolerance band for the first time in three months.

EURINR

Observations

EURINR trading range for the day is 88.08-88.64 Euro dropped as investors remained cautious about the prospect of further central bank policy tightening to tame inflation, raising the risk of a recession. The consumer confidence indicator in the Euro Area rose by 1.7 points to -19 in February of 2023, the highest in a year Remarks by European Central Bank officials dashed hopes of a quick end to the current tightening cycle.

GBPINR 

Observations

GBPINR trading range for the day is 98.99-100.93 GBP rose as investors monitor stronger-than-expected PMI data and softer-than-feared inflation. Flash figures showed output for private sector business rebounded after six months of contraction Public sector net borrowing excluding public sector banks in the UK was in surplus by £5.4 billion in January of 2023

JPYINR

Observations

JPYINR trading range for the day is 61.33-61.85 JPY dropped after data showed japan manufacturing shrinks the most in 2-1/2 years BOJ's Kuroda: Wage growth to accelerate on tight job market Japan services PMI rises to 8-month high

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