IGI Logo

USDINR

Observations

USDINR trading range for the day is 82.93-83.29.

Rupee remained in range as RBI also likely intervened via public sector banks to keep the rupee from falling to a record low.

A sharp rebound in Indian inflation raised expectations for the RBI to maintain its repo rate at the terminal level for a prolonged period of time.

India's merchandise exports declined by 15.88% in July to $32.25bn

BUY USDINR AUG @ 83.1 SL 82.95 TGT 83.32-83.48.

EURINR

Observations

EURINR trading range for the day is 90.16-90.74.

Euro dropped as the Fed minutes stressed that upside risks to inflation remain and that further interest rate hikes are still on the table.

Core inflation in the Euro Area did not slowdown in July as anticipated

The ECB dropped guidance that borrowing costs would keep rising

SELL EURINR AUG @ 90.8 SL 91.05 TGT 90.55-90.35.

GBPINR

Observations

GBPINR trading range for the day is 105.4-106.24.

GBP gains after data showed UK inflation slowed in July.

Consumer price inflation slowed to 6.8%, official figures showed.

The UK unemployment rate, unexpectedly rose to 4.2% from 4.0%

SELL GBPINR AUG @ 106.3 SL 106.6 TGT 105.95-105.75.

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer