INR 82.88-0.01
EUR 1.08522
POUND 1.26784
JPY 150.489
CHF 0.87994
AUD 0.6532
CNY 7.1972
Gold 2032.72
Silver 22.556
BRENT CRUDE 82.45
DOLLEX 103.7586
3M USD SOFR 5.33781
6M USD SOFR 5.27896
1Y USD SOFR 5.07098
Range for the day: 82.75 – 83.00
INR open around 82.88 levels as dollar trades flat ahead of US Durable goods data release due later today. Japan’s Core inflation steadies at 2%, dipping from a previous figure of 2.3%, raising speculations that the BOJ shall exit negative interest rates by April. This has led to a surge in Nikkei index as investors redirect inflows to Japan amidst economic and geopolitical woes in China, keeping the Asian equities broadly supportive. The debt-fuelled property sector shall continue to hamper China’s growth and weaken Yuan as well as constrain rupee. On the other hand, uninterrupted attacks by Houthi on Red Sea shipments has spurred supply worries and ticked up oil prices. Furthermore, month-end dollar demand by importers shall cap rupee’s upside potential.