Weekly USDINR Update By Mr. Anuj Gupta, IIFL Securities
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Below is Weekly USDINR Update by Mr. Anuj Gupta, Vice President, IIFL Securities
Last week Ruppee was trading lower by 0.33% and made a life time low level of 78.3925 levels.
Weakness in global equity market and strength in dollar are the major causes for the weakness.
India forex reserves drop $5.9 bn to $590.59 bn in a week as RBI sells dollars.
Ruppee is expecting to weak further and may test 79 levels in a short run. FED bank is expected to increase interest rates and dollar may strength further.
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