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Evening Currency Update 08 November 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 08 November 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
“USDINR spot closed 44 paise down near 74 levels on the back of strong FPI flows into the Paytm IPO as well as positive trend in equity markets. Global risk sentiments remain positive, and add to the opportunity for carry trade due to attractive forward premium, USDINR will be under selling pressure. However, RBI intervention cannot be ruled out. We expect a range of 73.80 and 74.30 on spot over the coming days.”
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