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Published on 27/10/2021 5:05:51 PM | Source: Emkay Global Financial Services Ltd

Perspective note on rupee By Emkay Global Financial Services

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Below is Perspective note on rupee By Currency Desk of Emkay Global Financial Services

"The move in USDINR spot has been sideways this week. Despite a quiet week on the economic data front, the USDINR ATM Volatility still remains around 5%. The fx traders are having a wary eye on tomorrow’s ECB policy, a moderately dovish tone will activate the dollar bulls. But its implication on USDINR spot will be limited as we have IPO subscriptions this week. In USDINR spot, we expect immediate resistance lies around 75.30, a break of which can push prices towards 75.50 zone. While, 74.75-74.50 will act as a crucial support.”

 

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