Rupee Weakens Amid Mild Declines in Asian Peers, Sustained Dollar Demand Pressures

Published 23-08-2024, 09:19 am
USD/INR
-
EUR/INR
-
GBP/INR
-
JPY/INR
-
SPGI
-

# USDINR trading range for the day is 83.92-84.
# Rupee weakened slightly tracking mild declines in most of its Asian peers and pressured by sustained dollar demand
# India retained its growth momentum in Q1 of FY25, says FinMin's monthly economic review
# India Manufacturing PMI fell to 57.9 in August 2024, down from 58.1 the previous month

# EURINR trading range for the day is 93.23-93.87.
# Euro gains amid the outlook of cheaper credit costs and positive activity data in the currency bloc.
# Eurozone’s PMI rose much more than expected to 51.2 in August, pointing to some traction in services activity.
# Eurozone Services PMI rose to 53.3 in August of 2024 from 51.9 in the prior month

# GBPINR trading range for the day is 109.37-110.79.
# GBP rose following better-than-expected growth in UK manufacturing and services activity for August.
# The S&P Global (NYSE:SPGI) UK Manufacturing PMI rose to 52.5 in August of 2024 from 52.1 in the previous month
# The S&P Global Flash UK PMI composite output index increased to 53.4, marking a four-month high.

# JPYINR trading range for the day is 57.1-57.96.
# JPY gains as Fed’s minutes showed that most members agree that it would be appropriate to start cutting interest rates in September
# The au Jibun Bank Japan Services PMI increased to 54.0 in August from a final 53.7 in the prior month
# The au Jibun Bank Japan Manufacturing PMI increased to 49.5 in August from a four-month low of 49.1 in the previous month

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.