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Kedia Daily Currency Update As On 15062020

Published 15-06-2020, 08:52 am
USD/INR
0.05%
EUR/INR
0.30%
GBP/INR
-0.06%
JPY/INR
-0.50%

# USDINR trading range for the day is 75.65-76.39.
# Rupee fell as local virus cases grow and retail consumption dwindles.
# Jitters from investors could reignite capital outflows, weighing on the rupee
# India’s foreign-exchange reserves are at a record and approaching the $500 billion mark.

# EURINR trading range for the day is 85.37-86.63.
# Euro dropped as the dollar bounced against riskier currencies after the U.S. Fed's economic outlook spooked investors.
# The Governing Council stands ready to adjust all its instruments as needed to support the euro area economy during the crisis
# The central bank is ready to adjust its key policy rate, which is the deposit rate that is currently at -0.50 percent, Lane said.

# GBPINR trading range for the day is 95.4-96.22.
# GBP dropped with the dollar lifted by a bleak economic outlook from Fed, and Brexit and the risk of negative rates
# Britain has left the EU but the main terms of its membership remain in place during a transition period until the end of 2020
# The market has its largest net short speculative position on the pound since November 2019

# JPYINR trading range for the day is 70.09-71.57.
# JPY held on to gains after global stock prices tumbled on renewed doubts over the prospects of a quick recovery in the global economy.
# Doubts over the economy stemmed in part from the U.S. Federal Reserve’s dire economic assessment as well as fears over new coronavirus infections.
# The value of core machine orders in Japan tumbled a seasonally adjusted 12.0 percent on month in April.

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