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Published on 25/09/2020 5:51:03 PM | Source: Motilal Oswal Financial Services Ltd

Currency Commentary by Mr. Gaurang Somaiya, Motilal Oswal

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Below is the Views On Currency Commentary by Mr. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services

“Rupee rose in the first half of the session following recovery in domestic equities but gains remained capped as the dollar strengthened against its major crosses.  On the domestic front, focus will be on fiscal deficit number that will be released next week and widening deficit could keep the rupee weighed down. Today, from the US, market participants will be keeping an eye on the durable goods number. In the next couple of sessions we expect USDINR (Spot) to quote in the range of 73.40 and 74.20.”

 

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