{"id":15213,"date":"2025-10-06T10:11:08","date_gmt":"2025-10-06T04:41:08","guid":{"rendered":"https:\/\/www.gwcindia.in\/blog\/?p=15213"},"modified":"2025-10-06T10:11:08","modified_gmt":"2025-10-06T04:41:08","slug":"fx-weekly-update-16","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-weekly-update-16\/","title":{"rendered":"FX – WEEKLY UPDATE :"},"content":{"rendered":"

Weekly SYNOPSIS: 03\/10\/2025<\/b><\/p>\n

Currency Map:<\/b><\/b><\/p>\n\n\n\n\n\n\n\n\n
Currency Pairs<\/b><\/td>\nWEEK CLOSE<\/b><\/td>\nPRIOR WEEK CLOSE<\/b><\/td>\n% change<\/b><\/td>\n<\/tr>\n
USD\/INR<\/b><\/td>\n88.79<\/b><\/td>\n88.72<\/b><\/td>\n0.07<\/b><\/td>\n<\/tr>\n
EUR\/INR<\/b><\/td>\n104.08<\/b><\/td>\n103.61<\/b><\/td>\n0.45<\/b><\/td>\n<\/tr>\n
GBP\/INR<\/b><\/td>\n119.32<\/b><\/td>\n118.49<\/b><\/td>\n0.70<\/b><\/td>\n<\/tr>\n
JPY\/INR<\/b><\/td>\n60.16<\/b><\/td>\n59.24<\/b><\/td>\n1.55<\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Brent Crude closed at USD 64.50 VS previous week close of USD 70. Gold closed at USD 3886. Nifty closed at 24894 vs prior week close of 24654. 10 Year G-SEC Yield is now at 6.51%.<\/span><\/b><\/b><\/p>\n

Major developments<\/span><\/b>: USDINR traded in the 88.65-88.87 range last week, and Rupee \u00a0declined 7 ps against USD w\/w. EUR climbed 0.45% w\/w and GBP climbed 0.70% w\/w against Rupee.<\/span><\/b><\/p>\n

Indian benchmark Equity indices climbed 0.97% w\/w. 10 Year G-SEC Yield closed at 6.51%.<\/span><\/b><\/p>\n

USDINR fwd premia was steady at 2.30% for 1 year.<\/span><\/b><\/p>\n

FX reserves stood at USD 700.23 bn, as on Sep 26 th. Reserves declined by US D 2.3 bn w\/w.<\/span><\/b><\/p>\n

In Oct, FII\u2019S have bought 183 Cr of Indian Equities and have bought Rs 90.58 cr of debt.<\/span><\/b><\/p>\n

Rupee range was narrow last week. RBI\u2019S intervention at 88.80 is keeping Rupee\u2019s rapid decline under check. However, there is no sign of reversal. There is also no sign of early trade deal with US. India-EFTA FTA came into force on Oct 1 st. This is the second major agreement this year, following India- UK FTA. India- EU deal is also on the cusp of finalisation.<\/span><\/b><\/p>\n

RBI held rates steady. GDP growth has been revised upwards to 6.8% for this fiscal and inflation is expected to decline to 2.6% due to GST cut. RBI announced liquidity boosting measures.<\/span><\/b><\/p>\n

<\/a><\/a><\/a>GST collections rose 9.1% in Sept to 1.89 lac Cr.Average monthly collections during FY26 are just a little short \u20b92 lakh crore a month, marking a significant increase compared to FY25 when the average monthly collections till September 2024 were \u20b91.8 lakh crore.<\/span><\/b><\/p>\n

Two major IPO\u2019S and 3 more fairly sized IPO\u2019S totalling 48000 Cr is expected in Oct. Tata Capital (15500 Cr) and LG Electronics (Rs 11000 Cr) are two big IPO\u2019S. With 2025 proceeds at $11.2 billion as the third quarter ended, India ranked as the world\u2019s fourth busiest\u00a0IPO market this year based on fundraising volume, according to data compiled by Bloomberg.\u00a0More IPO\u2019S are expected as SEBI has eased norms that could facilitate large private companies to go public. RBI has also eased lending norms to investors participating on IPO\u2019S.<\/span><\/b><\/p>\n

Though domestic funds can absorb the offerings, funds backed by JP Morgan and Goldman Sachs could also participate. This is Rupee positive.<\/span><\/b><\/p>\n

<\/a><\/a>Hedging advise<\/b>: Export hedging can be done from now till 89.15.<\/b><\/p>\n

Global developments<\/span><\/b><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a>:<\/span><\/b><\/a><\/a><\/a><\/a><\/a><\/a><\/a><\/a>\u00a0<\/b><\/a><\/a><\/a>US stocks gained and USD remained steady despite fiscal chaos in US.<\/span><\/b><\/p>\n

US Govt services has shutdown due to impasse over extent of funding<\/span><\/b>.<\/span>\u00a0US Treasury secy warned that the current government shutdown could hurt economic performance. \u201cWe could see a hit to the GDP, a hit to growth and a hit to working America,\u201d.<\/span><\/b><\/p>\n

U.S. government shutdown, now in effect after Congress failed to pass a funding bill, has frozen major data releases<\/b>,<\/span><\/b>\u00a0<\/b>WTI crude plunged around 8% as reports surfaced that OPEC+ could drastically raise its planned output increase, potentially flooding the market at a time of weak global demand.<\/span><\/b><\/p>\n

Focus will be on Fed action later this month and Fed could cut rates by 25 bps, considering likely slow down due to Govt shutdown.<\/span><\/b><\/p>\n

Currency technical levels<\/b>: USDINR: 88.45\/88.35 (Supports), 89.15 (resistance),<\/b><\/p>\n

EURINR:101.10(Support), 104.20\/105 (Resistance)<\/b><\/p>\n

GBPINR: Supports: 116.90 (supports), Resistance:120.70<\/b><\/p>\n

JPYINR: Resistance:60.25\/60.80 Supports: 58.75 (support).<\/b><\/p>\n

 <\/p>\n

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Give us Missed Call us on 90037 90027 . For Support : 044-40329999<\/strong><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Weekly SYNOPSIS: 03\/10\/2025 Currency Map: Currency Pairs WEEK CLOSE PRIOR WEEK CLOSE % change USD\/INR 88.79 88.72 0.07 EUR\/INR 104.08 103.61 0.45 GBP\/INR 119.32 118.49 0.70 JPY\/INR 60.16 59.24 1.55         Brent Crude closed at USD 64.50 VS previous week close of USD 70. Gold closed at USD 3886. Nifty closed at […]<\/p>\n","protected":false},"author":5,"featured_media":15091,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-15213","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-currency-update","post_format-post-format-image"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/comments?post=15213"}],"version-history":[{"count":2,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15213\/revisions"}],"predecessor-version":[{"id":15215,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15213\/revisions\/15215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media\/15091"}],"wp:attachment":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media?parent=15213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=15213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=15213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}