INR 83.41-0.01
EUR 1.07134
POUND 1.25316
JPY 156.08
CHF 0.91681
AUD 0.65282
CNY 7.2401
Gold 2319.98
Silver 26.575
BRENT CRUDE 83.87
DOLLEX 105.7674
3M USD SOFR 5.33272
6M USD SOFR 5.32645
1Y USD SOFR 5.26313
Range for the day: 83.20 – 83.50
Rupee is anticipated to trade sideways tracking a shift in risk sentiment of investors post Fed’s policy decision. The FOMC maintained it’s benchmark rates at 5.50% in yesterday’s meeting while Governor Powell closed doors for further hikes despite sticky inflation readings. As the markets expected a hawkish tone from the Fed despite a delay in rate cut prospects to December, the risk tolerant attitude of investors shall cheer Indian equities and rupee. Moreover, the rally in Global and Asian peers extends support to the unit. However, tick up in oil prices amidst a pent up in demand from US to replenish it’s petroleum reserves and importer demand at lower levels shall limit rupee’s appreciation.