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Published on 27/11/2020 10:00:37 AM | Source: Geojit Financial Services Ltd

US dollar traded marginally higher lack of major cues - Geojit Financial

Posted in Currency Report| #Currency Tips #Geojit Financial Services Ltd

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 News Box

* Indian Rupee ended at 73.88 yesterday, up 3 paise against its previous close of 73.91.

* FBIL set the reference rate for USDINR at 73.9752 and Euro at 87.6917.

* RBI is scheduled to release its weekly FX reserves figures later in the day.

* US dollar traded marginally higher lack of major cues.

* Euro gained while UK’s pound is set to follow Brexit news.

* ECB in its minutes signaled more stimulus in the coming monetary policy.

Outlook - USDINR

The Indian currency posted its wining streak for a fifth consecutive day; closed higher by 3 paise on Thursday tracking the gains in domestic equities. Lack of move from the US dollar ahead of the holiday also supported the Rupee. The local unit yesterday opened at 73.85 a dollar and made an intraday high and low of 73.75 and 73.89 before settling the day at 73.88 against its previous closing of 73.91. On the previous day, Rupee was closed higher by 10 paise. FIIs were buyers in the capital market segment; bought shares worth Rs 2027.31cr on 26 Nov 2020 as per exchange’s provisional figures. DIIs, on the other end were sellers to the tune of Rs 3400.1cr for the same period. Oil prices fell on the back of rise in coronavirus cases. For USDINR, 74.09 and 74.27 may act as crucial levels in the upside while 73.68 and 73.45 will act as support levels.

 

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