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USDINR

Observations

USDINR trading range for the day is 81.76-82.2 Rupee gained to strengthen past the 82-per-dollar level, as foreign banks in India were seen selling the greenback. India's forex reserves rise for second week, hit over 9-month high India cenbank bought $254 million in spot foreign-exchange market in February

EURINR

Observations

EURINR trading range for the day is 89.85-90.41 Euro steadied as markets continued to grapple with global economic uncertainties and the prospect of further monetary tightening German business morale slightly weaker than forecast Germany Manufacturing PMI fell to 44 in April of 2023, pointing to the biggest contraction in the manufacturing sector since May 2020

GBPINR

Observations

GBPINR trading range for the day is 101.61-102.17 GBP remained in range as markets expect the Bank of England to continue tightening policy to bring down inflation. UK house prices show weak rise in April – Rightmove British consumer prices at 10.1% in March, the only country in Western Europe with double-digit inflation.

JPYINR

Observations

JPYINR trading range for the day is 60.65-61.33 JPY dropped amid firm expectations that the US Federal Reserve will raise interest rates further next month. BOJ's forecasts must be quite strong to consider tweaking YCC – Gov Ueda Latest data showed that Japan’s core inflation remained well above the central bank’s target in March

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