Evening Currency Update 02 February 2022 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 02 February 2022 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
In lackluster trading, the USDINR spot closed 5 paise lower at 74.84. PSU banks were heard to be on the offer. Difficult to say whether they were doing the offer from the central bank but if RBI is on the offer then it could profit-taking move ahead of March year-end. High domestic bond yields and elevated oil prices are threats to the Rupee but in spite of that Rupee is not showing a lot of resilience. Over the near term we expect a broad range of 74.40 and 75.10 on spot.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
