INR 83.27+0.13
EUR 1.08377
POUND 1.26366
JPY 151.512
CHF 0.89918
AUD 0.6533
CNY 7.2231
Gold 2173.71
Silver 24.529
BRENT CRUDE 85.19
DOLLEX 104.1884
3M USD SOFR 5.31996
6M USD SOFR 5.24578
1Y USD SOFR 5.03684
Range for the day: 83.10 – 83.40
The local unit open weaker & shall trade with a depreciative bias as crosses weakened considerably after the BOE kept its policy decision unchanged while the Swiss bank surprised the markets by starting off the rate cut cycle. The fall in swiss franc by 1% and robust US Economic data has bolstered the dollar to new highs. Moreover, the Asian equities trade mixed amidst the shifting risk sentiment of investors. Weakness in Chinese Yuan is adding to the negativity in the rupee. Increase in oil importer bids and interbank buying ahead of long weekend mounts pressure on the rupee. However, a cool of in oil prices and better-than-expected Indian Manufacturing and services shall keep rupee supportive. RBI will also play a crucial role in restricting sharp depreciation in the rupee.