INR 83.21-0.10
EUR 1.0852
POUND 1.2674
JPY 151.75
CHF 0.9036
AUD 0.6624
CNY 7.2305
Gold 2351.81
Silver 28.137
BRENT CRUDE 89.46
DOLLEX 104.1239
3M USD SOFR 5.30586
6M USD SOFR 5.2493
1Y USD SOFR 5.08765
Range for the day: 83.10 – 83.35
INR open stronger and shall trade sideways owing to shifts in investor sentiment ahead of key US CPI release due later today. Additionally, Chicago and Minneapolis Fed President reiterated the need for cautious monetary policy outlook as inflation eases, underpinning the dollar furthermore. However, FOMC meeting minutes release shall further set the path for the dollar. On the other hand, Indian equities are expected to witness modest gains amidst cautious trade among market. However, a cool off in oil prices amidst an increase in US crude inventories extends supports to the rupee.