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Published on 22/07/2020 4:28:11 PM | Source: Emkay Global Financial Services Ltd

Overall the trend in USDINR spot has been bearish By Mr. Rahul Gupta, Emkay Global

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

‘’Overall the trend in USDINR spot has been bearish, breaching the psychological level of 75 on weak dollar and risk on mood. In the past, the USDINR spot has not been able to break the crucial support of 74.50 on likely RBI buying, and had bounced from there. We expect 74.50 to continue to act as a crucial support until the US decides on the fresh stimulus program. However, a consistent trading below 74.50 will open doors for 74.20/74.25 with 75 acting as the crucial resistance.’’

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