INR 83.25-0.06
EUR 1.0817
POUND 1.2720
JPY 156.81
CHF 0.9037
AUD 0.6634
CNY 7.2411
Gold 2339.5
Silver 30.907
BRENT CRUDE 81.55
DOLLEX 104.8462
3M USD SOFR 5.34608
6M USD SOFR 5.32565
1Y USD SOFR 5.22801
Range for the day: 83.15 – 83.45
The rupee shall trade sideways as the impact of a wobbly dollar is offset by deepening negativity in Indian equities. The official data released overnight showcased a pullback in US economic growth as the GDP reading resulted at 1.3% expansion in Q4 of 2023, down from 1.6% growth in the preceding quarter. Following this, the US Treasury yields witnessed a downfall from 4.63% to 4.54% while a relatively steady DXY above 104 levels kept the dollar supportive. Moreover, anticipation over the upcoming US PCE and Indian GDP data releases due later today, shall keep the demand for safe haven dollar on the upside. However, anticipated inflows shall largely support rupee. Moreover, the consistent decline in oil prices relieves rupee.