Views on Indian Rupee (INR) strengthened against the US Dollar (USD) By Mr. Hitesh Jain, YES India Securities
Below the views on Indian Rupee (INR) strengthened against the US Dollar (USD) By Hitesh Jain, Strategist, Institutional Equities Research, Yes Securities India Ltd
“Indian Rupee gained ground, helped by the peaking of Dollar index around 105 mark. Indian Rupee was also helped by expectations that Fed is done with the rate hikes, with interest rate futures pricing 99% probability of a pause at the September 20th meeting, while there is a 70% probability that Fed will not change interest rates at the November meeting as well. Moreover, recent data reveals that RBI has been intervening around 83-83.5 mark and we suspect some sort of intervention this week, helping the recovery in INR.”
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