INSUBCONTINENT EXCLUSIVE:
It witnessed a low of 74.39
In an early trade session, the local unit gained 11 paise to 74.26 against the greenback
The dollar index, which gauges the greenback's strength against a basket of six currencies, dipped 0.01 per cent to 91.74."The USDINR spot
is following the trend in dollar
Fed Powell downplaying the threat of tapering is not weighing on the spot, rather Fed rate hike worries has kept all the dollar bulls active
Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.''The Fed governor- Powell in his two-day testimony renewed the
forecast on inflation by commenting that price pressure is expected to drop back toward our longer-run goal as the supply effect will be
This led the dollar index to retrace back yesterday below 91.80, risk-on sentiment helped equities to move higher and made other currencies
cool off their losses,'' said Mr Amit Pabari, MD, CR Forex.The recent divergence between equity and rupee will not last long and we will see
convergence again....The dollar index and emerging market peer currencies will drive the momentum in the rupee
Thus we are expecting that the USDINR pair will trade in the range of 73.50-74.50 over the short term,'' he added.On the domestic equity
The larger setup suggests a possible short term correction up-to 15300 odd levels in the next few weeks
Executive Vice President, Equity Technical Research at Kotak Securities.On Thursday, the markets would be in a trading range of 15800/52800
Below 15670/52250, the Nifty/Sensex would quickly drop to the level of 15550/51700...One should be a level-based trader,'' he
added.According to exchange data, the foreign institutional investors were net sellers in the capital market on June 22 as they offloaded
shares worth Rs 1,027.94 crore
