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USDINR 

Observations

USDINR trading range for the day is 82.53-82.87 Rupee remained in range as US debt ceiling deal was reached over the weekend IMF expects India to grow by 5.9% in FY 2023–24, as against global economic growth of 2.8% India's foreign exchange reserves saw a fall of $6.052 billion to $593.477 billion

EURINR 

Observations

EURINR trading range for the day is 88.64-89.08 Euro dropped as investor demand for the US dollar increased following stronger-than-anticipated PCE data The European Central Bank is expected to proceed with a series of interest rate hikes throughout the year. ECB’s Knot recently voiced the opinion that the ECB should implement a minimum of two additional 25-basis-point interest rate hikes.

GBPINR 

Observations

GBPINR trading range for the day is 101.97-102.37 GBP dropped as recent inflation data highlighted ongoing inflationary pressures in the economy The core inflation rate, reaching its highest level in 31 years. Britain's retail sales for April exceeded expectations, indicating positive consumer activity in the country

JPYINR 

Observations

JPYINR trading range for the day is 59.03-59.55 JPY dropped weighed down by a rising dollar amid growing expectations that US interest rates could stay elevated Japan coincident index revised slightly higher Japan leading index revised upward

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