Below is the Quote on Rupee by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services:
"The weakness in dollar is weighing on USDINR spot pair. The USDINR spot is trading in an indecisive market, tomorrow's RBI policy is the major trigger this week. We expect a repo rate cut of 25bps tomorrow, an absence of rate cut may weigh on rupee. The 74.75 is acting as an immediate support. A break of 74.75 will push spot towards 74.50 while 75.50 will act as a crucial resistance."
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