IGI Logo

USDINR

SELL USDINR NOV @ 88.8 SL 88.9 TGT 88.7-88.6.

Observations

USDINR trading range for the day is 88.69-88.85.

Rupee clung to a narrow range as a broadly softer dollar amid improved risk appetite globally offered little comfort to the.

India's foreign exchange reserves experienced a significant decline of $5.6 billion, reaching $689.73 billion by October 31, 2025.

India's economy is poised for a strong third quarter, fueled by a booming wedding season and sustained festive consumption.

EURINR

SELL EURINR NOV @ 102.75 SL 103 TGT 102.5-102.25.

Observations

EURINR trading range for the day is 102.43-102.97.

Euro gains as dollar dropped as US consumer sentiment slumped to its weakest level in more than three years.

Euro zone manufacturing activity stagnated in October as new orders flatlined and headcount fell.

ECB is expected to keep rates unchanged for some time, with money markets now pricing only a 45% chance of a rate cut by September 2026.

GBPINR

SELL GBPINR NOV @ 116.9 SL 117.2 TGT 116.6-116.3.

Observations

GBPINR trading range for the day is 116.45-117.21.

GBP gains as market participants recalibrated their dovish expectations post-BoE meeting.

BoE Governor Andrew Bailey signaled that rate reductions are coming, with pricing in a pre-Christmas rate cut.

The BoE left interest rates unchanged at 4%, with a 5-4 narrow majority vote.

JPYINR

SELL JPYINR NOV @ 57.9 SL 58.1 TGT 57.7-57.5.

Observations

JPYINR trading range for the day is 57.48-58.2.

JPY dropped amid expectations that the new administration will push for a massive stimulus package and support accommodative monetary policy.

The Japanese government is expected to finalise an economic stimulus package on November 21.

BOJ signaled that it may continue to gradually raise interest rates as economic activity and prices improve