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Published on 7/10/2020 2:45:17 PM | Source: Emkay Global Financial Services Ltd

Quote on Rupee by Mr. Rahul Gupta, Emkay Global

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

"This week is the RBI MPC outcome, we expect the central bank to maintain a status quo on the back of rising inflation. The focus will be on growth projections, as since February 2020, the RBI has not given a solid economic projection. Meanwhile, the chatter will orbit around the US political scenario. We are observing an occasional bullish attempt in dollar. And as the dollar index marches towards 94 zone, there is an uptrend in USDINR. Also, there still persists an uncertainty in the runup to US presidential elections and this cautiousness will keep dollar bulls active. We expect the USDINR spot to trade in between 73.25-73.75, only a break of 73.75 will open doors for 74 zone."

 

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