USDINR trading range for the day is 83.25-83.61 - Swastika Investmart
USDINR
* USDINR trading range for the day is 83.25-83.61.
* Rupee falls on aggressive dollar bids by local oil companies, importers and equity-related outflows
* India current account gap narrows to 1.2% of GDP in Q3 FY24
* The RBI’s FX reserves rose to a record high of $642.49 billion as of March 15.
EURINR
* EURINR trading range for the day is 90.24-90.58.
* Euro dropped due to USD strength, buoyed by durable goods data and stable consumer confidence.
* ECB official Yannis Stoumaras commented that there is a consensus for a June rate cut.
* Bets for a June ECB rate cut undermine the Euro and further contribute to the downfall.
GBPINR
* GBPINR trading range for the day is 105.03-105.61.
* GBP retreats on higher BoE rate cut projections
* BoE Bailey says he doesn’t see market expectations for two or three rate cuts as unreasonable.
* The monthly retail sales balance in United Kingdom, climbed to +2 in March 2024
JPYINR
* JPYINR trading range for the day is 55.19-55.75.
* JPY steadied amid relatively dovish outlook for BOJ.
* Japan’s finance minister said that he would not rule out any measures to cope with the weakening currency.
* Weakness in the yen came even as the Bank of Japan hiked interest rates for the first time in 17 years last week.
Please refer disclaimer at https://www.swastika.co.in/disclaimer
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
