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Evening Currency Update 27 October 2021 by Anindya Banerjee, Kotak Securities
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Below is quote on Evening Currency Update 27 October 2021 by Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives, Kotak Securities
“Another lackluster day in USDINR with primary market FPI flows being offset by suspected RBI intervention and demand for US Dollars from oil marketing companies. As a result, the spot closed marginally higher at 75.02, up 6 paise. Over the near term, IPO-related FPI flows will remain heavy and that along with carry trade may keep USDINR capped near 75.20/25 levels. But strong US Dollar Index and RBI intervention may prevent a sharp slide. Therefore, a range of 74.75 to 75.25 may unfold over the near term.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
