Rupee is expected to depreciate on firm dollar - ICICI Direct
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Rupee Outlook and Strategy
US dollar increase by 0.04% yesterday amid rise in US treasury yields. Yields jumped on hopes that Omicron variant would be less harmful to economy than feared. However, sharp upside was capped on rise in risk appetite in the global markets
Rupee future maturing on December 29 depreciated marginally by 0.01% yesterday amid strong dollar, FII outflows and rise in crude oil prices. Further, investors remained cautious ahead of outcome of RBI monetary policy
Rupee is expected to depreciate on firm dollar, surge in crude oil prices and persistent FII outflows. Further, investors will remain vigilant ahead of RBI monetary policy and jolts job data from US. Central bank is likely to keep its benchmark interest rate unchanged, more focus will be on statements to get hint on future monetary stance. However, sharp fall may be prevented on rise in risk appetite in the global markets. USDINR(Dec) expected to trade in a range of 75.35-75.75
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