Evening Currency Updates 20 October 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 20 October 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
The USDINR spot closed 47 paise lower at 74.87, the lowest level since October 7th on the back of a sharp rally in Chinese currency and fall in the US Dollar Index. With oil prices holding steady at around 85 dollars a barrel, Rupee has become a major underperformer in the Asian basket. There is scope for Rupee to gain further ground, especially if the US Dollar Index remains weak and global equity markets maintain the risk on-trend. We expect a range of 74.50-75.20 over the near term.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
