INR 83.46-0.04
EUR 1.0887
POUND 1.2690
JPY 153.93
CHF 0.9001
AUD 0.6695
CNY 7.21
Gold 2389.24
Silver 29.582
BRENT CRUDE 83.12
DOLLEX 104.1741
3M USD SOFR 5.32933
6M USD SOFR 5.29573
1Y USD SOFR 5.1564
Range for the day: 83.30 – 83.55
The domestic currency opens marginally stronger and trade with an appreciative bias owing to a weaker dollar amidst the release of softer US economic data. The US inflation print released yesterday, indicated a cool-off in prices pressures with monthly readings resulting at 0.3% against an expectation of 0.4%. Moreover the monthly Retail Sales fell from 0.4% to 0% in April, fueling in prospects of a moderating US economy. The weaker-than-expected economic data sets from the US has turned the investors towards equity markets as they price at least two rate cuts by the Fed with July back in play. Following this, Indian equities are anticipated to regain their lost momentum and flourish once again thereby cheering the rupee. However, rise in oil prices tracking an improving demand outlook and increase in importer bids at lower levels shall limit the rupee’s appreciation.