INR 83.36+0
EUR 1.0654
POUND 1.2349
JPY 154.75
CHF 0.9117
AUD 0.6456
CNY 7.2448
Gold 2304.02
Silver 26.896
BRENT CRUDE 87.4
DOLLEX 106.1098
3M USD SOFR 5.32294
6M USD SOFR 5.29803
1Y USD SOFR 5.21604
Range for the day: 83.20 – 83.50
INR seen to trade sideways as the impact of a flat dollar is offset by weaker Asian peers. Ahead of key inflation print release by the US due this week, the dollar trades quite despite a hawkish tone set by the Fed officials. Conversely, the weakness of Yen and Yuan constrain the unit’s upside potential. The recovery in the local unit shall also attract importers to increase bids. However, risk tolerant sentiment of the investors shall keep the Indian equities positive and extend support to the currency. Moreover, range bound oil prices add cheer to the rupee.