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Evening Currency Updates 08 September 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Updates 08 September 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
“The rupee saw a follow through on the way up just ahead of noon fix, as risk-off sentiments prevailed in equity markets on the back of news of a probable default by second largest property developer in China, Evergrande. Corporate outflows were noted on the back of dividend payments. However, dollar selling from exporters and FPIs capped the advance and pushed the pair from 73.70 to 73.60 at close of spot. Bias remains of a range between 73.00 and 74 on spot.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
