IGI Logo

Below are Quote on Evening Currency Updates by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities

“Another lackluster day of trading in USDINR as spot closed 4 paise lower by at 74.54 and July futures is trading 5 paise lower, as weaker US Dollar Index and FPI flows into the ongoing IPOs kept the USDINR capped under 74.60 on spot but relentless buying of $ from RBI kept the pair above 74.50. Tomorrow, we expect USDINR to come under selling pressure as last day of ZOMATO IPO may see lumpy inflows. However, RBI intervention may prevent any sharp appreciation. We expect a range of 74.30-74.65 on spot.”

Above views are of the author and not of the website kindly read disclaimer