Rupee Gains as Foreign Bank Dollar Sales, Short Covering Offset Stronger Greenback

Published 21-03-2025, 09:00 am

# USDINR trading range for the day is 86.1-86.66.
# Rupee rose as persistent dollar sales by foreign banks and the paring of short bets on the currency helped it weather a stronger dollar.
# Indian economy resilient amid global trade war uncertainties, says central bank.
# India's limited dependence on external demand is likely to protect it from the impact of U.S. trade policies, and Fitch Ratings.

# EURINR trading range for the day is 93.09-94.69.
# Euro fell after ECB President Lagarde warned of weaker growth but downplayed inflation risks if the EU retaliated against US tariffs.
# Producer prices in Germany increased by 0.7% year-on-year in February 2025.
# Eurozone inflation eased more than initially estimated to a three-month low in February.

# GBPINR trading range for the day is 111.43-112.65.
# GBP steadied after the release of the UK labor market data for three months ending January.
# BOE voted 8-1 to keep the Bank Rate at 4.5% at its March 2025 meeting, as expected.
# The United Kingdom (TADAWUL:4280)'s unemployment rate held steady at 4.4% from November to January 2025, in line with expectations.

# JPYINR trading range for the day is 57.94-58.34.
# JPY appreciated as the dollar weakened after the US Fed reaffirmed its outlook for two interest rate cuts this year.
# Fed Chair Jerome Powell also downplayed the inflationary impact of President Donald Trump’s tariffs, calling them as likely short-lived or transitory.
# BOJ policymakers signaled a cautious stance, opting to assess the impact of global economic risks, particularly higher US tariffs, on Japan’s economy.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.