The USDINR pair made a flat opening at 75.61 levels and traded in the range of 75.33-75.71 with an upside bias. The USDINR pair has closed the trading session at 75.33. The RBI set the reference rate at 75.6611. Initially, the USDINR pair rose because some state-owned banks stepped in to purchase US dollars on behalf of oil marketing companies, noting sharply elevated crude oil prices. However later in the day, the USDINR pair reversed its early gains and slipped as risk sentiment improved after concerns about the Russia-Ukraine conflict eased. Geopolitical tensions mounted after Russia stationed well over 130,000 troops along the three sides of Ukraine.

But today, the Russian military said some of its troops are expected to return to their bases as a number of drills have finished. Moreover, a sharp rise in domestic share indices also supported the Indian currency. The dollar index also came off its earlier high after Russia-Ukraine tensions eased, noting which banks cut their existing bets in favor of the dollar. The unemployment rate in the UK remained unchanged at 4.1% at the end of December, below the 4.2% consensus forecast from economists polled.

German investor sentiment rose in February on expectations that restrictions to contain COVID-19 will ease, allowing growth in Europe's largest economy to pick up, a survey showed. Eurozone economic growth slowed sharply q-o-q as expected in the last three months of 2021, as activity was hit by another wave of COVID-19 infections and surging prices that cut into disposable incomes.

Download The Full Daily Currency Highlights

This report has been prepared by IFA Global. IFA Global shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. IFA Global nor any of directors, employees, agents or representatives shall be held liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. No liability whatsoever is accepted for any loss arising (whether direct or consequential) from any use of the information contained in this report. This statement, prepared specifically at the addressee(s) request is for information contained in this statement. All market prices, service taxes and other levies are subject to change without notice. Also the value, income, appreciation, returns, yield of any of the securities or any other financial instruments mentioned in this statement are based on current market conditions and as per the last details available with us and subject to change. The levels and bases of, and reliefs from, taxation can change. The securities / units / other instruments mentioned in this report may or may not be live at the time of statement generation. Please note, however, that some data has been derived from sources that we believe to be reliable but is not guaranteed. Please review this information for accuracy as IFA Global cannot be responsible for omitted or misstated data. IFA Global is not liable for any delay in the receipt of this statement. This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject IFA Global to any registration or licensing requirements within such jurisdiction. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. IFA Global reserves the right to make modifications and alterations to this statement as may be required from time to time. However, IFA Global is under no obligation to update or keep the information current. Nevertheless, IFA Global is committed to providing independent and transparent information to its client and would be happy to provide any information in response to specific client queries. Neither IFA Global nor any of its directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. The information provided in these report remains, unless otherwise stated, the copyright of IFA Global. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright IFA Global and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD hovers around 1.0750 with a negative sentiment amid hawkish Fed

EUR/USD hovers around 1.0750 with a negative sentiment amid hawkish Fed

EUR/USD could extend its losses for the third successive session, trading around 1.0750 during the Asian session on Thursday. The US Dollar appreciates amid expectations of the Federal Reserve’s maintaining higher interest rates. 

EUR/USD News

GBP/USD holds below 1.2500 ahead of BoE rate decision

GBP/USD holds below 1.2500 ahead of BoE rate decision

GBP/USD extends its losing streak for the third successive session, trading around 1.2490 during the Asian session on Thursday. Thursday brings the Bank of England interest rate decision, with expectations of maintaining interest rate at 5.25%.

GBP/USD News

Gold price gains momentum, investors await US data, Fedspeak for fresh catalyst

Gold price gains momentum, investors await US data, Fedspeak for fresh catalyst

Gold price holds positive ground in Thursday’s Asian session. The rise in global gold demand, persistent central bank purchasing, and safe-haven flows might continue to boost the precious metal. 

Gold News

President Biden threatens crypto with possible veto of Bitcoin custody among trusted custodians

President Biden threatens crypto with possible veto of Bitcoin custody among trusted custodians

Joe Biden could veto legislation that would allow regulated financial institutions to custody Bitcoin and crypto. Biden administration’s stance would disrupt US SEC’s work to protect crypto market investors and efforts to safeguard broader financial system.

Read more

BoE set to leave interest rates unchanged amid increasing expectations of cuts

BoE set to leave interest rates unchanged amid increasing expectations of cuts

It's anticipated that the BoE will maintain the benchmark interest rate at 5.25% after its policy meeting today at 11:00 GMT. Alongside the policy rate announcement, the bank will release the Monetary Policy Minutes and the Monetary Policy Report.

Read more

Majors

Cryptocurrencies

Signatures