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Published on 9/04/2020 2:38:11 PM | Source: Emkay Global Financial Services

Rupee is breaching fresh record lows, now the level is 76.54 by Mr. Rahul Gupta, Emkay Global

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

“Every week rupee is breaching fresh record lows, now the level is 76.54 and it is difficult to say where will it be from here. But uncertainty and fragile market sentiments over COVID-19 will continue to keep under pressure. Further pressure will come from the uptick in crude and surge in dollar index. Also, OTC timings have been trimmed to 10AM-2PM, and it is an illiquid, pessimistic market at this point in time and won’t be surprised if 77.50 is breached next week. So broadly, USD/INR may trade within 75.70-77.50 with a bullish bias next week.”

 

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