INR 83.47+0
EUR 1.0703
POUND 1.2540
JPY 156.83
CHF 0.9116
AUD 0.6531
CNY 7.2427
Gold 2329.12
Silver 26.928
BRENT CRUDE 88.43
DOLLEX 105.8538
3M USD SOFR 5.32681
6M USD SOFR 5.30909
1Y USD SOFR 5.23653
Range for the day: 83.30 – 83.55
The Indian Rupee is presumed to trade sideways owing to shifting risk sentiment of investors ahead of FOMC policy decision and month-end demand amidst a holiday truncated week. While the Fed is poised to maintain the interest rate at multi-year highs, markets expect Governor Powell to strike a hawkish tone. Moreover, month end demand by importers shall further fuel in strength for the dollar against the rupee. However, despite the anticipation over upcoming slew of data releases from developed economies, the investors seem to be risk taking which shall sustain Indian equities’ rally. On the other hand, the clouded demand outlook and peace talks in Middle East relieve supply disruption fears for oil, thereby dragging it’s prices and cheering rupee. Moreover, RBI’s intervention at times of sharp fall in rupee will support the currency.