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USDINR

USDINR trading range for the day is 82.6-83.02.

Rupee dropped as oil prices rose and investors assessed China's move to ease COVID curbs while cases continued to rise in the country.

The MPC is mandated to bring retail inflation down to 4% over the medium term while keeping it within the target band of 2%-6%.

The central bank's likely intervention helped the currency end almost flat for the week and sent forward premiums to a one-month high.

EURINR

EURINR trading range for the day is 87.79-88.65.

Euro remained supported as investors continue to assess hawkish central bank outlooks, from the ECB

The central bank also revised its inflation forecasts higher while the growth outlook was revised sharply lower.

Fresh PMIs for December showed private sector activity in the Euro Area shrank at the slowest pace in four months

GBPINR

GBPINR trading range for the day is 99.48-100.46.

GBP traded in range as investors weigh a less hawkish BoE and economic prospects.

BOE said inflation had peaked, suggesting there could be a pause in the current policy tightening next year.

Data showed UK CPI inflation fell to 10.7% in November, from a 41-year high of 11.1% in October

JPYINR

JPYINR trading range for the day is 62.01-62.49.

JPY remained in range as Japanese retail sales rose for a ninth straight month in November

Japan’s unemployment rate fell to 2.5% in November 2022 after standing at 2.6% in the past two months

Japan’s Ministry of Finance is to raise their 10-year JGB coupon rate to 0.4-0.5% from the current 0.2% in January. – Kyodo

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