SELL USDINR MAR @ 92.4 SL 92.6 TGT 92.2-92. - Kedia Advisory
USDINR
SELL USDINR MAR @ 92.4 SL 92.6 TGT 92.2-92.
Observations
USDINR trading range for the day is 92.2-92.62.
Rupee hovered around 92.45, near record lows, pressured by elevated crude prices and sustained foreign equity outflows.
Persistently high oil prices are forcing importers to purchase more dollars, widening India’s trade deficit.
Investor sentiment remains fragile, as overseas portfolio investors have withdrawn over $5.5 billion from Indian equities in March
EURINR
SELL EURINR MAR @ 106.3 SL 106.6 TGT 106-105.8.
Observations
EURINR trading range for the day is 105.58-106.56.
Euro gained on short covering after prices dropped amid escalating tensions in the Middle East.
Attention is now shifting to the upcoming policy meeting of the European Central Bank on Thursday.
ECB’s Lagarde to outline how the central bank intends to protect the eurozone economy from inflationary pressures linked to the conflict and surging energy prices.
GBPINR
SELL GBPINR MAR @ 123 SL 123.3 TGT 122.7-122.5.
Observations
GBPINR trading range for the day is 122.36-123.28.
GBP recovered on short covering and investors are closely monitoring ongoing tensions in the Middle East.
The UK recorded a trade surplus of £3.92 billion in January 2026, a sharp reversal from a £4.34 billion deficit in the previous month.
For the March meeting, attention will focus on the vote split, with a 7-2 or 6-3 decision to hold rates seen as the most likely outcome.
JPYINR
SELL JPYINR MAR @ 58.1 SL 58.3 TGT 57.9-57.7.
Observations
JPYINR trading range for the day is 58.08-58.08.
JPY dropped as oil prices continued their ascent, pressuring the country’s oil-importing economy.
FM Katayama said the government is monitoring currency movements closely and is prepared to act with strong measures if needed.
BOJ is expected to hold its policy rate steady amid heightened uncertainty over the Iran war’s impact on the domestic economy.
