INR 83.25-0.03
EUR 1.08077
POUND 1.26894
JPY 157.093
CHF 0.91527
AUD 0.6594
CNY 7.2453
Gold 2330.54
Silver 30.217
BRENT CRUDE 81.38
DOLLEX 105.1065
3M USD SOFR 5.33589
6M USD SOFR 5.3008
1Y USD SOFR 5.16692
Range for the day: 83.15 – 83.40
The rupee is expected to witness a muted trade as dollar rises to it’s highest weekly gain in a month and a half tracking signs of reversal in US economy. While a slew of recent economic data sets from the US indicated moderation in the world’s largest economy, yesterday’s SnP Global readings came out better-than-expected with manufacturing and service sector PMIs exceeding anticipated figures of 50, 51.3 and resulting at 50.9, 54.8 respectively. Once again, the resiliency of US economy and delay in Fed rate cut decision will support dollar against its counterparts. Presently, the risk-off sentiment in the market shall keep the Indian indices broadly choppy and limit rupee’s appreciation. The weakness in Asian and Global peers further weighs on the local currency. However, flat oil prices continue to support the unit.