Weekly Currencies Fundamental Report – 16 June 2023

USDINR: Last week, the Indian Rupee appreciated by around 0.65 percent touching the higher levels of 81.85 on account of bunched up corporate inflows coupled with sharp fall in DXY. This strength is likely to continue today as well tracking the positive sentiments in Asian markets after a rally in stocks linked to artificial intelligence drove US benchmarks higher, while expectations for more stimulus in China saw commodities gain.