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The USDINR spot is not breaking the narrow range of 72.75-73.20 By Rahul Gupta, Emkay Global
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Below are Views On The USDINR spot is not breaking the narrow range of 72.75-73.20 By Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services
“The USDINR spot is not breaking the narrow range of 72.75-73.20. Right now, the market is very flat and volatility is muted. The bullish sentiments and inflows into local stocks confines the advance in rupee, but for that RBI’s protection around 72.75-73 zone should end. Traders are waiting for RBI policy outcome for more clarity over the trend. We don’t expect RBI to cut rates but any hint over future rate cut would be positive for rupee. So until the policy outcome we expect USDINR spot to continue being sideways.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
