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Below are Views On This week USDINR spot is backing and filling in between 74.75-74.20 By Emkay Global Financial Services

“This week USDINR spot is backing and filling in between 74.75-74.20, and is about to end the month on a positive note. Next week is a truncated for Indian market but is eventful for the crosses amid FOMC, BOE monetary policies and the US NFP data. There are more chances for the Fed to announce the tapering next week, to start the process in mid-Nov or Dec, thus ahead of the outcome volatility in USDINR will continue and keep USDINR afloat. Meanwhile, IPO related inflows and some pullback in crude oil prices may act as a strong resistance in USDINR spot. So we expect USDINR to broadly trade in between 74.50-75.45.”

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