INR 83.31+0.03
EUR 1.08268
POUND 1.26156
JPY 151.692
CHF 0.90371
AUD 0.65196
CNY 7.2277
Gold 2179.22
Silver 24.435
BRENT CRUDE 85.47
DOLLEX 104.3705
3M USD SOFR 5.30942
6M USD SOFR 5.22513
1Y USD SOFR 5.0099
Range for the day: 83.10 – 83.50
The Indian Rupee open marginally weaker and trade sideways amidst dollar gaining on robust US Economic data. The data released yesterday indicated that the US Durable goods order rose by 1.4% in February, reversing it’s previous fall by 6.9%. This has extended support to the dollar ahead of US PCE data release due on Friday which serves to be an important indicator of inflation for the Federal Reserve. On the other hand, the narrowing Current Account Deficit of India to $10.5 bln cites bettering economic conditions which shall keep rupee supportive. Moreover, better-than-expected Chinese industrial profits shall extend support to the Yuan as well as rupee. A cool off in oil prices amidst rise in US crude inventory relieves the pressure on the local unit.