Currency Commentary : Rupee fell to fresh all-time lows following broad strength in the dollar Says Mr. Gaurang Somaiya, Motilal Oswal Financial Services.
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Below is Currency Commentary 29 June 2022 by Mr. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services
“Rupee fell to fresh all-time lows following broad strength in the dollar against its major crosses. Dollar rose despite consumer confidence number released from the US came in below estimates. Euro and pound consolidated in a narrow range ahead of major central bank governor's statement. Today focus will be on the final GDP number; better-than-expected number could support the dollar at lower levels. We expect the USDINR to trade sideways but with a positive bias quote in the range of 78.70 and 79.20.”
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