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Published on 24/06/2020 4:36:30 PM | Source: Emkay Global Financial Services Ltd

Quote on Rupee by 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

"The USD/INR spot has dropped below 76 as globally traders are turning a blind eye to the second wave of coronavirus. The risk appetite is turning positive as economies are opening up giving rise to better than expected US and Eurozone economic data. However, the risk of Indo-China border still prevails, in our opinion it won’t escalate but will continue to grapple the market sentiments. The strong support lies around 75.50, unless that breaks the USD/INR spot will continue to trade towards 76.”

 

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