INR 83.36+0.18
EUR 1.0718
POUND 1.2547
JPY 153.21
CHF 0.9103
AUD 0.6532
CNY 7.2363
Gold 2386.8
Silver 28.778
BRENT CRUDE 90.33
DOLLEX 105.3256
3M USD SOFR 5.32856
6M USD SOFR 5.30621
1Y USD SOFR 5.20036
Range for the day: 83.20 – 83.45
The Indian Rupee open around 83.36 levels owing to a stronger dollar on the back of higher US PPI figures and bolstering Treasury yields. While the annual US PPI figures fell just short of expectations of 2.2% and came in at 2.1%, the Core PPI figures surpassed projected number of 2.3% and resulted at 2.4%. This scaled back Fed’s June rate cut probabilities to 22.9% from 59.6%, a month ago according to the CME Fedwatch tool. Moreover, weakening Asian and Global peers and rise in oil prices above $90/bbl continue to weigh on the currency. However, RBI intervention shall keep the unit supportive. Attention turns towards the release of Indian inflation, industrial and manufacturing data due today which will guide the path for the rupee in the coming sessions.