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Below is the Daily Currency Commentary 28th December 2021 by Mr. Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services

“In the last few sessions, movement in the rupee has been led by RBI intervention and weakness in the dollar index. Most market participants have been on the sidelines on account of Christmas and New Year holidays suggests that the move has been on the back of thin volumes. This week, on the global front, no major economic data is expected to be released and on the domestic front focus will be on the fiscal number. We expect the USDINR (Spot) to quote in the range of 74.40 and 75.20.”

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