Weekly Currencies Fundamental Report – 17th March 2023

USDINR: Last week, the Indian Rupee traded in a range bound manner with a slight weaker bias tracking losses in Asian equities and currencies on concerns over the spillover fears after the collapse of the Silicon Valley Bank. Fallout from the collapse of U.S. lenders Silicon Valley Bank and Signature Bank prompted investors to dump risk assets and price in rate cuts by the Federal Reserve this year.