INR 83.30+0
EUR 1.0855
POUND 1.2708
JPY 156.281
CHF 0.91135
AUD 0.66674
CNY 7.239
Gold 2418.5
Silver 31.856
BRENT CRUDE 82.34
DOLLEX 104.6354
3M USD SOFR 5.32946
6M USD SOFR 5.29466
1Y USD SOFR 5.15806
Range for the day: 83.15 – 83.40
The local unit is poised to open largely unchanged around 83.30 levels and withstand a sideways trade as dollar consolidates ahead of Fed minutes release. With FOMC meeting minutes due later today and a number of Fed members striking a cautious tone, the dollar gains slightly. However, the global equity markets reaching all-time shall extend the bullish momentum for the Indian indices as well. On the other hand, the delay in rate reduction cycle by the Fed and other major central banks continues to cloud the demand outlook for the commodity thereby keeping the prices under check and reliveing rupee further. Relentless importer demand at lower levels shall keep limit the currency’s appreciation.