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22-02-2024 - THURSDAY

The yen sagged to fresh lows on the euro, sterling, and other crosses this week and headed for a fourth weekly drop on the dollar as investors chased better yields just about everywhere but Japan, wagering rates there would stay near zero for some time. The yen is the worst performing G10 currency this year, with a 6.4% slide on the dollar. The greenback is the best performing. The dollar gained 0.1% to trade at 150.41 yen this week however moves in Asian Market opening trades today were small. Yen moves against the dollar were more modest due to the risk its slide could prompt intervention in markets from Japan, with officials reminding traders they stand ready in recent days. Later in the day, central banker speeches including from European Central Bank president Christine Lagarde and Fed Governor Christopher Waller will be closely watched. In currencies today, the euro is set for its largest gain in two months as well on the back of a steady reduction in the scale of interest rate cuts expected this year, with markets now pricing about 90 bps of cuts from about 160 at the end of 2023. Sterling was up 0.5% on the week to $1.2658. The U.S. dollar index was down 0.3% for the week at 103.91 The Indian rupee opened marginally weaker at 82.86/87 against its previous session’s close of 82.84/85 and is expected to trade between 82.75 – 82.95 band today.
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INR Rates

Symbol   Bid  ASK
USD83.15 83.16
GBP105.7668 105.81669
EUR90.47552 90.50878
JPY0.56236 0.56239
CHF95.73978 95.7839
AUD54.75428 54.76259
SGD62.03835 62.0754
CAD61.6794 61.71144
NZD50.59678 50.63004
*Closing Rates on : 2024-01-23

Stock Indices

IndexPointsChange
BSE Sensex73060.66-97.58
S&P CNX Nifty22191.05-26.4
NASDAQ18004.702525.794
HangSeng16725.86-17.09
DJ IA31097.9756.84
DAX17372.31.85
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