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Evening Currency Update 03 February 2022 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 03 February 2022 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
"USDINR spot closed 21 paise higher at 75.91, highest levels since December 20th. Thanks to surging oil prices and falling stock market, Rupee depreciated against the US Dollar. We suspect RBI has been intervening aggressively and that may have prevented a bigger drop in Rupee. Over the near term, we expect USDINR to trade with an upward bias within a range of 75.60 and 76.40 on spot."
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
