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Published on 17/01/2020 10:54:38 AM | Source: ICICI Direct

CY20 Currency Outlook by ICICI Direct

Posted in Currency Report| #Currency Tips #ICICI Direct

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Rupee (71.00): Consolidation in range of 67-74 likely...

Since CY04, the rupee has consolidated for two years after a sharp depreciation in a pre-election year as seen in 2004-05, 2009-10 & 2014-15. The same rhythm has played out in CY19 and is likely to continue in CY20. We expect it to consolidate in the broad range of 67-74 in CY20

The medium term trend in the rupee remains positive. Hence, we expect it to appreciate towards the key hurdle area of 67. Level of 74 remains a key support for CY20

 

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