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Published on 26/06/2020 3:17:42 PM | Source: Emkay Global Financial Services Ltd

FII inflows into local stocks have dragged the USD/INR spot again towards 75.50 zone by Mr. Rahul Gupta, Emkay Global

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Below is the Quote on Rupee by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

“Despite the rising coronavirus concerns, the global equity market is trading higher reacting to new stimulus packages and unconventional easing. But, there is a lot of uncertainty over the spike in COVID-19 cases. The market is trying to figure out what the impact this is going to have on consumer activity in coming months, and it’s not clear now because we don’t know how bad this spike is going to get. FII inflows into local stocks have dragged the USD/INR spot again towards 75.50 zone. So we expect it to trade within 75-76 in coming days until the Indo-China border issues escalate.”

 

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