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Evening Currency Update 21 January 2022 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 21 January 2022 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
"USDINR closed 13 paise lower at 73.90 on spot on the back of ongoing corporate $ sales, FPI inflows and carry trade selling. Rupee is trading at the highest levels since mid-November. We suspect RBI intervention may increase as USDINR is trading below 74. However, bias remains downward. Over the near term, we expect a range of 73.60 and 74.30 on spot."
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