17 Apr 2023

Fall in India's inflation provides stability to INR

Decline in domestic inflation supported Indian rupee. In the view of decline in US inflation, FOMC is likely to slow down rate hike. Now market eyes on outcomes of forthcoming Fed meeting.

author dp
Team INRBonds
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●       On 14th April, USD closed higher as US inflation came down to 5% in March from 6% in previous month as compared to previous month. On a weekly basis, USD remained stable. The Dollar Index fell by 0.5% on a weekly basis.

●       INR traded flat against USD as domestic fell to 5.66% in March from 6.44% in previous month.

●       U.S. initial jobless claims rose to 239,000 as of the week ended 8th April from 228000 as the end of previous week.

●       Eurozone industrial production expanded by 2% on a yearly basis in Feb 23.

●       China's inflation rate came down to 0.7% on yearly basis in March 23 from 1% in the previous month.

●        India’s industrial production stood at 5.6% in Feb 23.

 

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