24/07/2021 2:00:02 PM | Source: Kotak Securities
Evening Currency Updates 24-07-2021 by Anindya Banerjee, Kotak Securities

Below is Quote on Evening Currency Updates by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
- After two weeks of low volatility, USDINR saw some decent two-way moves. Prices oscillated between 74.35 and 75.10 levels. However, the month-old range between 74.20 to 75.10 remains intact. The reason being RBI remains a major buyer of US Dollars at lower levels and corporate $ flows and FDI inflows are capping the upside. The end result is a range of 1%.
- Next week prices may continue in the current range as long as RBI remains a major buyer of US Dollars. The US central bank meeting on Wednesday is not expected to deliver any new information and hence would keep USDINR within 74.20 and 75.00 range. IPO-related FPI flows may pick up over the next week.
Above views are of the author and not of the website kindly read disclaimer
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News

Neutral IDFC First Bank Ltd For Target Rs. 72 by Mot...

Buy Shriram Finance Ltd For Target Rs. 790 by Motila...

Buy Macrotech Developers Ltd For Target Rs. 1,625 by...

Neutral Hindustan Zinc Ltd For Target Rs. 460 by Mot...

Korean Air to acquire 10 pc stake in Canada`s WestJet

Buy Maruti Suzuki Ltd For Target Rs. 13,985 by Motil...

Indian markets end lower this week amid rising India...

Buy RBL Bank Ltd For Target Rs. 220 by Motilal Oswal...

Buy Reliance Industries Ltd For Target Rs. 1,515 by ...

Indian markets end lower this week amid rising India...
Tag News
News Not Found