Evening Currency Update 06 December 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 06 December 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
“USDINR spot closed 25 paise higher at 75.42, on the back of weakness in equity markets and rising cases of OMICRON in India. Since 1st July, today is the third time the USDINR spot has closed above 75.40 levels. The last two times, there was no follow-through, but if the risk aversion persists, then USDINR can see further upside on the back of FPI outflows and corporate $ demand. We expect a range of 75.20 and 75.70 on spot over the near term.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
