SELL USDINR MAY @ 96.4 SL 96.6 TGT 96.2-96.
USDINR
SELL USDINR MAY @ 96.4 SL 96.6 TGT 96.2-96
Observations
USDINR trading range for the day is 95.69-96.81.
Rupee jumped sharply towards 96 led by central bank intervention likely intended to support as currency has plumbed to successive record lows.
RBI considering all its available options to stabilize the rupee, including an interest rate hike
Top officials at the RBI, have held a series of internal meetings to discuss the course of action after the plunge in the rupee.
EURINR
SELL EURINR MAY @ 112.25 SL 112.55 TGT 111.9-111.6.
Observations
EURINR trading range for the day is 111.47-112.87
Euro dropped amid Rupee firmness and investors digested S&P Global flash PMI data and Middle East developments.
Eurozone Manufacturing PMI fell to 51.4 in May 2026 from 52.2 in April, missing market expectations of 51.8.
Germany Services PMI rose to 47.8 in May 2026 from 46.9 in April, above market expectations of 47.0, according to flash estimates.
GBPINR
SELL GBPINR MAY @ 129.5 SL 129.8 TGT 129.2-129
Observations
GBPINR trading range for the day is 128.47-130.29.
GBP steadied as investors processed S&P Global flash PMI data and Middle East developments.
UK Manufacturing PMI held steady at 53.7 in May 2026, unchanged from April and well above market expectations of 53.
UK Services PMI fell to 47.9 in May 2026 from 52.7 in the prior month, missing market forecasts of 51.7.
JPYINR
SELL JPYINR MAY @ 60.7 SL 60.9 TGT 60.5-60.3
Observations
JPYINR trading range for the day is 60.6-60.76.
JPY steadied on Rupee firmness after support seen amid growing optimism over a potential peace agreement between the US and Iran.
The S&P Global Japan Manufacturing PMI declined to 54.5 in May 2026 from 55.1 in April, which was the highest reading since January 2022
Japan’s S&P Global Services PMI edged down to 50.0 in May 2026 from a final 51.0 in the previous month, flash estimates showed.
