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Evening Currency Updates 14 October 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 14 October 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
USDINR spot closed 11 paise lower at 75.25 on the back of rise in stocks and weakness in the US Dollar Index, after real yields fell in US. Over the next week, USDINR may continue to see more range bound price action between 75.00 and 75.80 levels in October futures. For USDINR to break down below 75.00 or challenge 76.00, it needs either the US Dollar Index to head lower or equity markets to head lower. Therefore, one can focus on trading this range using futures or even look at selling options to pocket premium.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
