INR 83.42-0.01
EUR 1.08269
POUND 1.26257
JPY 151.226
CHF 0.90233
AUD 0.65664
CNY 7.2305
Gold 2278.69
Silver 26.496
BRENT CRUDE 90.96
DOLLEX 104.3173
3M USD SOFR 5.30184
6M USD SOFR 5.23892
1Y USD SOFR 5.05943
Range for the day: 83.30 – 83.60
INR open near historical low levels of 83.45 amidst a steady dollar and skyrocketing oil prices. The hawkish remarks from Fed officials namely Minneapolis Fed President Neel Kashkari ahead of US labor data release has boosted dollar. Moreover, the escalation in Iran-Israel tensions has spurred some risk-off sentiment globally which will hurt the Indian equities. The Middle Eastern tensions has bolstered the oil prices above $90/bbl, it’s highest for the year, adding misery to the local unit. Though the RBI is expected to keep it’s repo rate unchanged in today’s policy decision, markets await for the economic and monetary outlook of the Indian central bank. While any breach of 83.50 will trigger stop losses, RBI is expected to cap any sharp losses in the Rupee.