INR 83.38+0.04
EUR 1.07165
POUND 1.2525
JPY 159.323
CHF 0.91298
AUD 0.65633
CNY 7.2462
Gold 2326.49
Silver 27.215
BRENT CRUDE 88.68
DOLLEX 105.981
3M USD SOFR 5.3295
6M USD SOFR 5.31384
1Y USD SOFR 5.2438
Range for the day: 83.25 – 83.50
Rupee is anticipated to trade sideways as dollar stays defensive ahead of FOMC policy decision due this week. The markets await in anticipation over any guidance for the central bank’s rate outlook after repeated runs of stronger-than-expected US economic data and sticky inflation readings. The positive sentiment in the Wall Street and Asian markets shall keep the Indian equities in green. Moreover, peace talks between Israel and Hamas has eased supply disruption fears while the sticky inflation readings indicate the sustainment of restrictive monetary policy by the Fed, thereby hampering the demand and dragging the prices. However, month end dollar demand by importers shall contain rupee’s upside.