INR 82.81
EUR 1.09307
POUND 1.27978
JPY 147.288
CHF 0.8773
AUD 0.66148
CNY 7.1872
Gold 2160.52
Silver 24.136
BRENT CRUDE 82.31
DOLLEX 102.8707
3M USD SOFR 5.32516
6M USD SOFR 5.23326
1Y USD SOFR 4.98235
Range for the day: 82.65 – 82.90

Rupee is expected to trade with a depreciative bias as dollar gains on the back of rising US Treasury yields post yesterday’s release of higher US inflation figures. While the US CPI came in higher-than-expected at 3.2%, the Core CPI figures also surpassed expectations of 3.7% and resulted at 3.8%, indicating sticky inflation. However, investors continue to keep June rate cut speculations alive. Moreover, the Asian equities gained momentum from a robust rise in Wall Street and shall trade broadly positive. While the Indian inflation edged down from 5.10% to 5.09% in February, the industrial and manufacturing production witnessed a decline. This shall keep rupee underpinned. Moreover, an uptick in oil prices amidst an increase in global demand outlook adds pressure on the rupee.