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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.

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