USD-INR:
The Indian Rupee depreciated by 0.40 percent in yesterday’s trading session on the back of rise in risk aversion in the global markets. Weak economic data from China led to the concern over slowdown in world second largest economy. Exports from China fell by 25.4 percent from year earlier and imports dropped by 13.8 percent, imports remained weak for 16th consecutive month. Demand from oil importers added downside pressure. Benchmark stock index 50 share Nifty Index ended flat at 7485.30.
EUR-INR:
Euro depreciated by 0.07 percent in yesterday’s trading session on the back of strong dollar and as investors remained cautious ahead of ECB monetary policy meet. However, sharp downside was cushioned on upbeat economic data from Euro Zone and rise in risk aversion in the global markets. German Industrial Production increased by 3.3 percent in January from 0.3 percent fall in December. Euro as funding currency because of their nations’ low-interest rates get strengthen during risk times. In intraday Euro touched a low of 1.0992 and closed at 1.1006 against Dollar.
GBP-INR:
Pound depreciated by 0.35 percent in yesterday’s trading session on the back of strong dollar and rise in risk aversion in the global markets. Further, Bank of England Governor Mark Carney stated that Britain exit from European Union may hurt economy and worsen risk to financial stability. In intraday Pound touched a low of 1.4171 and closed at 1.4208 against Dollar.
JPY-INR:
Japanese Yen appreciated by 0.64 percent in yesterday’s trading session as rise in risk aversion in the global markets and escalating geopolitical tensions led to the rise in demand for safe haven. However, a sharp gain was prevented on the back of strong dollar and disappointing economic data from Japan. Japan Consumer Confidence Index fell to 40.1 in February from 42.5 in January.
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