INR 83.21+0.04
EUR 1.0847
POUND 1.2748
JPY 157.32
CHF 0.9125
AUD 0.6649
CNY 7.2481
Gold 2356.31
Silver 31.995
BRENT CRUDE 84.41
DOLLEX 104.7169
3M USD SOFR 5.34625
6M USD SOFR 5.32377
1Y USD SOFR 5.21487
Range for the day: 83.05 – 83.35
INR open marginally weaker and trade with a depreciative bias owing to a steady dollar. The improvement in US consumer confidence readings released yesterday, despite the persistence of higher price pressures and increased cost of borrowing, keeps the dollar supportive. The weakness in Asian peers namely Chinese Yuan amidst slower economic recovery shall keep the USDINR on the higher side. The prolonged volatile trade of Indian equities, rising importer demand along with increasing oil prices aims to push USDINR even higher. However, the potential of sells offs by exporters on brief uptick and RBI intervention in case of any sharp gains in USDINR will keep the currency pair’s trade range bound.