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Below is the Views On USDINR has been trading in a very border range for 71.00 - 71.50 this entire week By Mr. Rahul Gupta, Head of Research-Currency, Emkay Global Financial Services
USDINR has been trading in a very border range for 71.00 - 71.50 this entire week. Lower oil prices has offset month-end dollar demand which has kept USDINR in tight range. Going forward, Next week FOMC meeting and India's union budget will keep rupee on an edge. Also, a major development on China corona virus can be a spoilsport. Overall for next week, USDINR is expected to trade in a range which crucial supports placed at 71.05 and 71.60 can act as a major resistances.
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