MENU

Published on 23/11/2020 11:06:23 AM | Source: ICICI Direct

Rupee expected to trade in range of 74.0-74.8 levels - ICICI Direct

Posted in Currency Report| #Currency Tips #ICICI Direct

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Rupee expected to trade in range of 74.0-74.8 levels…

* US$INR futures fell gradually during the week till a low of 74.10 as a fall in the dollar index along with positive domestic equities kept selling pressure on the pair

* The dollar remained caught in a tug-of-war between the upbeat outlook arising from positive vaccine news and the relentless rise in Coronavirus infections that forced localised shutdowns around the world

* With fiscal stimulus plans remaining uncertain, speculation is growing that the Federal Reserve may further loosen monetary policy in December

* Therefore, we expect the rupee to trade in the range of 74.00-74.80 for the coming week as a rebound in dollar index is expected to support the pair. However, a rally in domestic equities may cap further gains

 

To Read Complete Report & Disclaimer Click Here

 

For More ICICI Direct Disclaimer http://icicidirect.com/disclaimer.html
SEBI Registration number is INZ000183631

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer