Currency Yearly Outlook 2022 By ICICI Direct
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Rupee
The rupee is likely to face resistance near 78 level and strengthen back to 72 levels in coming months as India seems to be in a better position to withstand any major shock from monetary tightening.
Unlike 2013 when the rupee had depreciated drastically after the US Fed announced monetary tightening, India currently holds the fourth largest forex reserve and surplus BOP. Further, with stability in oil prices and import cover of more than 10 months, the rupee should have enough cushion to withstand external shocks.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
