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Published on 9/05/2022 6:03:57 PM | Source: Motilal Oswal Financial Services Ltd

Currency commentary by Mr. Gaurang Somaiya, Motilal Oswal Financial Services.

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Below is currency commentary by Mr. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.

“Rupee fell to fresh all-time lows today as the dollar rose broadly against its major crosses. Last week's central bank policy action led to heightened volatility in most of the currencies. Stronger dollar and sustained upmove in global crude oil price is weighing on the overall market sentiment. This week, focus will be on the inflation number that will be released on the domestic front as well as from the US. We expect the USDINR (Spot) to trade with a positive bias and quote in the range of 77.20 and 77.80”

 

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