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USDINR

Observations

USDINR trading range for the day is 82.57-83.01 Rupee traded in a range as concerns over a European lender dented broader risk sentiment. India likely to keep April-Sept borrowing under 60% of FY24 goal RBI may have intervened to stem depreciation in the rupee, as the central bank has protected those levels in the past.

EURINR

Observations

EURINR trading range for the day is 87.45-88.47 Euro settled flat as Credit Suisse will get some support from the central bank of Switzerland to borrow up to CHF 50 billion. The ECB raised interest rates by 50 bps as expected, further pushing borrowing costs to the highest level since late 2008 German economy expected to contract slightly in 2023 – Ifo

GBPINR

Observations

GBPINR trading range for the day is 99.39-100.39 GBP dropped as investors assessed the possible impact of the European and US banking system turmoil, as well as stubbornly high inflation The unemployment rate in the United Kingdom came in at 3.7 percent in November 2022 to January 2023 Average weekly earnings, including bonuses in the UK, rose 5.7% year-on-year to GBP 630 in the three months to January of 2023

JPYINR

Observations

JPYINR trading range for the day is 62-62.78 JPY gains amid a flight to safety after Credit Suisse's woes added pressure to the global banking sector. Japan's trade deficit increased to JPY 897.7 billion in February 2023 from JPY 711.5 billion in the same month a year earlier Japan's core machinery orders, jumped 9.5% month-on-month in January 2023, accelerating from a downwardly revised 0.3% rise in December

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