INR 83.39-0.08
EUR 1.0660
POUND 1.2379
JPY 154.69
CHF 0.9120
AUD 0.6438
CNY 7.2424
Gold 2365.12
Silver 27.93
BRENT CRUDE 86.53
DOLLEX 106.07
3M USD SOFR 5.3264
6M USD SOFR 5.3029
1Y USD SOFR 5.21451
Range for the day: 83.30 – 83.50
The rupee open marginally stronger tracking an ease in Middle Eastern tensions, cool off in oil prices and possible dollar inflows. Though the ease in Middle East conflict decreases the demand for the “safe haven” dollar, hawkish comments from Fed officials citing further delay in Fed’s rate reduction commencement maintains the pressure on the rupee. Moreover, weaker Yuan amidst sustainment of loose monetary policy by the PBoC today, adds misery to the unit. However, decline in oil prices owing to stock up in US crude inventories as well as positivity in Asian equities shall extend support to the Indian markets thereby aiding rupee. Moreover, the RBI shall continue to monitor the movement in the currency and shield any sharp losses.