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02-08-2022 05:25 PM | Source: Kotak Securities
Evening Currency Update 08 February 2022 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 08 February 2022 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
USDINR spot closed 5 paise higher at 74.74 as traders remain on sidelines ahead of RBI monetary policy. RBI needs to deliver a hawkish policy, or else the growing headwinds: (i) Oil prices (ii) relentless FPI outflows (iii) extremely hawkish pricing of G3 central banks can drive USDINR back above 75 levels, post policy. Over the near term we expect a range of 74.40 and 75.20 levels on spot.
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