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You can see the latest forex market movement trends updated frequently during forex trading hours. International Forex Market Trends and Market Analysis Report are provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.

International Forex Market Rates for USD, Euro and GBP provided below was last updated on Apr 26 ~ 10:00 - Indian Standard Time

Trend Indicators against INR

The Indian rupee opened flat against U.S.Dollar at 83.30/83.31, despite a pick-up in U.S. inflation which spurred a rise in U.S. Treasury yields and further reduced the likelihood of imminent Federal Reserve rate cuts. USD/INR range for the day is 83.25 to 83.45 and for this month is 83.00 to 83.70.

The Indian Rupee closed flat at 83.30/83.31 against its previous close of 83.31/83.32,wedged between a decline in most of its asian peers and interbank dollar sales after the local unit managed to hold above a key support level.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo. Beyond corporate earnings in market, investor focus will be on the first quarter U.S. gross domestic product data on Thursday and personal consumption expenditures, the Fed's preferred inflation gauge, for March on Friday. A hotter-than-expected consumer price inflation report for March had pushed back expectations of when the Fed will begin cutting interest rates, with markets pricing in a 70% chance of September being the starting point, CME FedWatch Tool showed. Traders are pricing in 43 basis points of easing in 2024, drastically lower than the 150 basis points they anticipated at the start of this year. The shifting expectations of U.S. rates have lifted Treasury yields and the dollar, casting a shadow on the currency market. Against a basket of currencies, the dollar was little changed at 105.75. The index is up over 4% this year. The yen, which is sensitive to U.S. Treasury yields, has felt the brunt of the dollar's ascent and is down 9% this year, the worst performing G10 currency. On Thursday, the yen was fetching 155.445 per dollar, having touched a 34-year low at 155.45 earlier in the session, breaching past the key 155 yen level that some traders had marked out as a line in the sand that would prompt Tokyo to take action. The Bank of Japan (BOJ) has started its two-day rate-setting meeting on Thursday to discuss monetary policy, with expectations that the central bank will keep its short-term interest rate target unchanged. The BOJ chief will be mindful of avoiding the episode of 2022, when his predecessor's dovish remarks triggered a yen plunge that forced Tokyo to intervene, spending an estimated $60 billion to defend the yen. In commodities, oil prices eased a bit as concerns about a potential slowdown in the U.S. economy outweighed worries over the risk of an expanding conflict in the Middle East. U.S. crude fell 0.08% to $82.74 per barrel and Brent was at $87.99, down 0.03% on the day. Spot gold added 0.2% to $2,320.32 an ounce.

FACTORS AGAINST RUPEE :

Note :This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his / her own risks and no obligation arises to TMB or any of its officials. All such trading involves risks.

Exchange Rates Information last updated in part or full on Friday, April 26,2024 - 10:00 AM (IST) for ready transactions. All quotations are per unit of Foreign Currency except Japanese Yen, which is quoted for 100 Units

The currency rates given herein are only for reference and convenience. The bank has taken due care and caution in compilation of data given herein. The bank however does not guarantee the accuracy, adequacy or completeness of the data and is not responsible for any errors or omissions or for the results obtained from use of such information / data. The bank has no financial liability whatsoever to any user on account of the use of information / data provided in this page.