11/11/2021 5:32:31 PM | Source: Kotak Securities
Evening Currency Update 11 November 2021 by Anindya Banerjee, Kotak Securities
Below is quote on Evening Currency Update 11 November 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
“USDINR spot closed 14 paise higher 74.51 tracking US Dollar Index higher. Thanks to a sharp upmove in the US bond yields, post record CPI inflation, DXY touched a fresh 52 week high. Weakness in domestic equities is adding to the pressure on Rupee. However, corporate $ inflows are keeping gains at check. Over the near term, USDINR may trade with an upward bias within a range of 74.30 and 74.80 on spot.”
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