Below is the Quote on Rupee by Mr. Rahul Gupta, Head of Research-Currency, Emkay Global Financial Services
"The Indo-China border skirmish is keeping the USDINR spot afloat, also, RBI is seen protecting the fall in spot. The USDINR spot has not broken the crucial resistance of 73.75, on subdued dollar ahead of today's Fed outcome. We don't expect any changes in tonight's monetary policy but the main focus will be on details over measures to boost economic growth. If Fed sounds less dovish than expected while providing details over average inflation targeting, then we can expect an uptick in dollar index and further rise in USDINR spot. A consistent trading above 73.75 will open doors for 74 and above levels with 73.20 being the crucial support."
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