INR 83.43+0.02
EUR 1.0649
POUND 1.2459
JPY 153.67
CHF 0.9142
AUD 0.6480
CNY 7.2384
Gold 2357.45
Silver 28.191
BRENT CRUDE 90.17
DOLLEX 105.9706
3M USD SOFR 5.32766
6M USD SOFR 5.30337
1Y USD SOFR 5.20904
Range for the day: 83.25 – 83.65
The local unit is tracking weaker Asian peers and robust dollar as Fed rate cut expectations in the near term fade. Moreover, the tensions in the Middle east has increased the demand for “safe haven” dollar amidst a risk-off sentiment which shall also keep the Indian equities under pressure. On the other hand, growing property sector crisis, deflationary pressures and economic revival jitters drags Yuan thereby adding misery to the rupee. However, a modest decrease in oil prices amidst a dial back in risk premium tracking Iran-Israel tensions shall temporarily relieve rupee. Furthermore, RBI intervention and positive inflows in Indian debt market will continue to protect the unit from sharp depreciation. All eyes on the Indian WPI inflation, balance of trade figures along with US Retail Sales data release due today to project the futuristic approach of the respective economies.