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USDINR

USDINR trading range for the day is 75.62-76.28.

USDINR dropped tracking weak global crude oil prices, upbeat domestic equities and the Fed hiked interest rate by an expected 25 basis point

Moody's lowers India growth estimate for CY22 to 9.1% on Ukraine conflict

Annual inflation rate in India accelerated for a 5th straight month to 6.07% in February of 2022, the highest since June of 2021

EURINR

EURINR trading range for the day is 83.64-84.22.

Euro remained in range as diplomatic efforts to end the war in Ukraine continued and traders digested the recent Fed move.

ECB's President Lagarde: Inflation is increasingly likely to stabilise at our 2% target over the medium term.

Money Markets now price in 50 BPS of ECB rate hikes in total by year-end vs around 45 BPS

GBPINR

GBPINR trading range for the day is 99.62-100.58.

GBP remained supported as investors digested an expected 25bps rate hike by the US Fed before the Bank of England’s interest rate decision.

The Bank of England raised its key Bank Rate by 25bps to 0.75%, in line with expectations.

The UK labor market continued to recover in the three months to January despite rising headwinds

JPYINR

JPYINR trading range for the day is 63.79-64.49.

JPY dropped as a rate hike with a hawkish outlook from the Fed underscored just how far the Bank of Japan is likely to lag worldwide policy tightening.

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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