INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 73.18 against the dollarThe rupee snapped its winning streak and depreciated 13 paise against
the US dollar on Wednesday, May 19, to settle at 73.18, tracking Asian currencies ahead of the US Federal meet minutes
The demand for the American currency from importers and losses in domestic equities with weaker regional risk appetite also weighed on the
It witnessed a low of 73.18
In an early trade session, the domestic unit gained five paise to 73 against the greenback.The local unit pared gains and witnessed a fall
of 13 paise over its previous close, to settle at 73.18 against the dollar
Covid cases are moderating in India and Fed's music will remain the same, so chances of USDINR bouncing are very low
Still traders are awaiting tonight's Fed minutes for the clues about the outlook
The USDINR spot is hovering around 73 zone, the only fear is of RBI intervention in between 72.75-73 zone to curb any excess volatility,''
Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.''But in absence of RBI, the downtrend in USDINR spot may continue
and USDINR spot may trade in between 72.75-73.30,'' he added.''As flows continue (yesterday a corporate sold $ 700 mio) and with less of
buyers of $ in the market USDINR continues to fall only supported by RBI
Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.''The slide in the USD/INR is gathering traction, aided by the fact that the
number of covid cases in India fell below 300,000 for the second day in a row, and the overall covid situation is not increasing
At 73.36, the currency pair started the day on a negative note
Commodities at CapitalVia Global Research Limited.''Due to IPOs and QIPs planned by some Indian corporations, Dollar inflows are expected
Importers and corporations do not appear to be buying dollars, and these firms are most likely waiting for the rupee to strengthen further
If the 73.00 threshold is breached, traders are concerned regarding RBI action,'' added Mr Purohit.On the domestic equity market front, the
second half due to a sudden fall in US stock futures
The Nifty fell by 77 points while the Sensex fell by 290 points
Shares of Finance and Metals were among the losers, while pharmaceutical and realty stocks rose marginally
For the May series, support is seen at 14400; immediate support is yet to mature and hence buying on corrections is advisable
On the higher side resistance seen at 15200 above which 15500 can be conquered
Research- Derivatives at Kotak Securities.According to provisional data, the foreign institutional investors (FIIs) were net buyers in the
capital markets, as they purchased shares worth Rs 618.49 crore on May 18
