Monthly Currencies Fundamental Report – October, 2023

USDINR: The entire month of Sep’23 saw a positive trend in the Indian Rupee on account of suspected inflows in the system. In a recent discussion, it was mentioned that the Indian government bonds will become part of JPMorgan Chase & Co.’s emerging markets bond index. The inclusion will happen in a staggered manner over 10 months between 28th Jun’24 and 31st Mar’25, it said.