INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 74.49 against the dollarContinuing its winning streak for the third session, the rupee
appreciated nine paise against the US dollar on Tuesday, July 13, to settle at 74.49, tracking gains on foreign fund inflows and positive
It witnessed a low of 74.50 during the session
74.58 against the American currency.The dollar index, which gauges the greenback's strength against a basket of six currencies,
local unit also gained after the government released the retail inflation data on Monday
say:Mr Amit Pabari, MC, CR Forex:''Broadly, the USDINR pair is expected to trade in the sideways zone range of 74.20 to 74.90 for few more
The positives for the rupee could be only IPO, but the weight that is heavier as after Rs
80,000 crore worth of issues in July, now LIC and Paytm is going to hit the market soon.The negatives for rupee are a stronger US dollar,
higher crude oil prices, weaker domestic fundamentals, and expectation of a higher fiscal deficit
Overall, tug of war likely to continue between positives and negatives until the USDINR pair breaks 74.90 over the medium term to set
75.20-75.50 targets.''Kshitij Purohit, Lead International - Commodities at CapitalVia Global Research Limited:''Technically, the USDINR July
Prices have again faced challenges in closing above the resistance zone of 74.82-74.84.On intraday charts, prices were moving in a
may see price testing resistance in the range of 74.97-75.00
On the contrary, if prices face challenges in crossing 74.82-74.85 zone, we may see a downfall till 74.60-74.58 zone, which is the next
Bank.According to exchange data, the foreign institutional investors were net sellers in the capital market on July 12 as they offloaded
shares worth Rs 745.97 crore
