We expect USDINR to remain within a range of 73.40-74.20 over the near term By Anindya Banerjee, Kotak Securities
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Below are Views On We expect USDINR to remain within a range of 73.40-74.20 over the near term By Anindya Banerjee, Kotak Securities
The spot rupee closed 26 paise higher at 73.87 against the dollar on the back of lumpy corporate outflows. Hopes of a hawkish Fed is pushing the rupee higher. Chinese financial stress is an added positive factor. Tonight's Fed meeting will be watched closely. The market is expecting the US Fed to announce a timeline on taper, issue an inflation forecast, and update its interest rate projection via dot plot. We expect USDINR to remain within a range of 73.40-74.20 over the near term.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
