Yearly Currency Outlook 2022 By ICICI Direct
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Rupee
* In the last decade, on three occasions, the rupee has seen sharp depreciation of more than 20% as in CY08- 09, CY13-14 and CY18-20. The sharp depreciation is followed by multi year consolidation (minimum of 11 quarters)
* In the current scenario, the rupee after depreciating from 63.5 to 76.9 during CY18-20, has been consolidating in a narrow range in the last seven quarters. As per historical evidence, we expect the current consolidation to extend in the coming year in the broad range of 72-78.
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Tag News
EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
