Evening Currency Update 11 August 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Updates 11 August 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
"USDINR continued to languish in a narrow range as positive cues from strong US Dollar Index is offset by FPI flows in the primary market and soft oil prices. Spot closed flat near 74.44 levels. Tonight's focus will be on US CPI inflation data. A softer print can exert downward pressure on USDINR tomorrow. However, RBI remains an aggressive buyer and hence USDINR will remain supported at lower levels. We are looking for USDINR to trade within a range of 74.25 to 74.65 levels on spot."
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
