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Published on 31/07/2020 2:51:58 PM | Source: Emkay Global Financial Services Ltd

This week USDINR spot has been trading in a very lacklustre By Rahul Gupta, Emkay Global Financial Services

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Below is the  Quote on Rupee by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services:  

“This week USDINR spot has been trading in a very lacklustre range of 74.65-74.90. Traders were expecting cues from the Fed policy but it was a non-event. Now the focus will be shifted to next week’s RBI policy. Looking at the slowing growth, we expect RBI may cut repo rate again by 25bps. This may give boost to risk appetite and weigh on USDINR spot. Also, the sell-off in dollar index will continue to keep the spot lower, thus, unless 75 breaks we expect  the spot to trade in between 74.50 and 75.”

 

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