Evening Currency Update 20 August 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Updates 20 August 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
“Even with US Dollar Index at a fresh high for 2021, USDINR has hardly moved. Spot closed 14 paise higher at 74.38 but well within a the range of past one month of 74.10 and 74.50 levels. Hawkish comments from US central bank members and weak stock markets could not push USDINR higher due to lumpy corporate $ flows. Over the near term, we expect USDINR to trade within a range of 74.25 to 74.80 on spot.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
