{"id":15458,"date":"2025-11-03T14:34:07","date_gmt":"2025-11-03T09:04:07","guid":{"rendered":"https:\/\/www.gwcindia.in\/blog\/?p=15458"},"modified":"2025-11-03T14:34:07","modified_gmt":"2025-11-03T09:04:07","slug":"fx-weekly-update-17","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-weekly-update-17\/","title":{"rendered":"FX – WEEKLY UPDATE :"},"content":{"rendered":"

Weekly SYNOPSIS: 31\/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>\n88.70<\/b><\/td>\n87.82<\/b><\/td>\n1.00<\/b><\/td>\n<\/tr>\n
EUR\/INR<\/b><\/td>\n102.67<\/b><\/td>\n101.78<\/b><\/td>\n0.87<\/b><\/td>\n<\/tr>\n
GBP\/INR<\/b><\/td>\n116.69<\/b><\/td>\n116.85<\/b><\/td>\n-0.13<\/b><\/td>\n<\/tr>\n
JPY\/INR<\/b><\/td>\n57.61<\/b><\/td>\n57.33<\/b><\/td>\n0.48<\/b><\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Brent Crude closed at USD 65 VS previous week close of USD 66. Gold closed at USD 4002 Nifty closed at 25722 vs prior week close of 25795. 10 Year G-SEC Yield is now at 6.52%.<\/span><\/b><\/b><\/p>\n

Major developments<\/span><\/b>: USDINR traded in the 87.87-88.77 range last week, and Rupee declined 88 ps against USD w\/w. EUR climbed 0.87% w\/w and GBP declined 0.13% w\/w against Rupee.<\/span><\/b><\/p>\n

Indian benchmark Equity indices declined 0.3% w\/w. 10 Year G-SEC Yield closed at 6.52%.<\/span><\/b><\/p>\n

USDINR fwd premia declined to 2.23% for 1 year.<\/span><\/b><\/p>\n

<\/a>FX reserves stood at USD 695.35 bn, as on Oct 24 th. Reserves declined by 6.92 bn\u00a0 w\/w.<\/span><\/b><\/a><\/p>\n

In Oct, FII\u2019S have bought Rs 18636 Cr of Indian Equities and have bought Rs 3614 cr of debt.<\/span><\/b><\/p>\n

<\/a>IIP climbed 4% in Sept 25 y\/y.\u00a0 IIP climbed 0.8% m\/m. Aug data was revised to 4.1%. Q2 IIP climbed 4.1% as against 2% in Q1. Mfrg climbed 4.8%,power generation grew by 3.1%, mining contracted -0.4%. Infrastructure and Consumer durables sector led the mfrg growth.<\/span><\/b><\/p>\n

Rupee reversed course swiftly on month end demand and hawkish comments by Fed. RBI intervened sporadically at 88.40 and later at 88.75 levels. There are growing signs of India-US trade deal conclusion before Nov end. Though there is no hint from Indian side, US approach on various issues hints at a trade deal conclusion soon.<\/span><\/b><\/p>\n

Indian Corporate result season is going on and there is a strong possibility of earnings upgrades in coming two quarters.<\/span><\/b><\/p>\n

Important levels to watch are 88.40\/87.70 on the downside and 88.85\/89.15 on the upside.<\/span><\/b><\/p>\n

<\/a><\/a>Hedging advise<\/b>: Export hedging can be done regularly.<\/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>Fed cut rates by 25 basis points to a range of 3.75% to 4.00%, marking its second consecutive reduction, but signalled uncertainty about further easing.<\/span><\/b><\/p>\n

USD gained as Fed members pushed back against further rate cuts, arguing that inflation is still high and economy is sound.\u00a0<\/span><\/b>For now, futures markets still assign about a 60% probability of a 25-basis-point cut in December.\u00a0<\/b><\/p>\n

Fed Chair Jerome Powell pushed back against expectations that another rate cut in December was assured, saying it was \u201cfar from\u201d a foregone conclusion.<\/span><\/b><\/p>\n

He cautioned that the central bank was \u201cnavigating in the fog,\u201d citing mixed economic signals and uneven progress on inflation. The comments tempered optimism in markets that had priced in a follow-up reduction before year-end.<\/span><\/b><\/p>\n

US-China agreed on a trade framework, easing concern over trade war escalation. China has agreed to ease controls on rare earth magnets and will buy US Soyabeans. US will slash tariffs on Chinese imports.<\/span><\/b><\/p>\n

US Govt shutdown continued, impacting release of key data releases.<\/span><\/b><\/p>\n

European Central Bank (ECB) held its Deposit Rate steady at 2.00%\u00a0<\/b>in<\/span><\/b>\u00a0monetary policy announcement, keeping its monetary policy stance on hold for the second meeting in a row. The accompanying statement was neutral in tone and offered little in the way of forward guidance on future policy moves.<\/b><\/p>\n

Currency technical levels<\/b>: USDINR: 88.40\/87.70 (Supports), 88.85 (resistance),<\/b><\/p>\n

EURINR:101.60\/100.75(Support), 103.15 (Resistance)<\/b><\/p>\n

GBPINR: Supports: 115 (supports), Resistance:118.50<\/b><\/p>\n

JPYINR: Resistance:59.05 Supports: 57.30 (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: 31\/10\/2025 Currency Map: Currency Pairs WEEK CLOSE PRIOR WEEK CLOSE % change USD\/INR 88.70 87.82 1.00 EUR\/INR 102.67 101.78 0.87 GBP\/INR 116.69 116.85 -0.13 JPY\/INR 57.61 57.33 0.48         Brent Crude closed at USD 65 VS previous week close of USD 66. Gold closed at USD 4002 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-15458","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\/15458","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=15458"}],"version-history":[{"count":2,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15458\/revisions"}],"predecessor-version":[{"id":15460,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/15458\/revisions\/15460"}],"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=15458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=15458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=15458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}