INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 74.19 against the dollarContinuing its winning streak for the fourth straight session, the rupee
In an early trade session, the domestic unit inched four paise higher to 74.15 against the greenback
currencies, slipped 0.05 per cent to 92.22
According to forex traders, the price action remained subdued as the investors awaited the RBI's monetary policy statement for further
testing a key support level near 91.80 in an earlier session amid hawkish comments from US Federal Reserve Vice Chair Richard Clarida, who
upgrade growth projections and turn hawkish given by the surprising pace of economic recovery in the US
This could turn the dollar stronger in the upcoming time.Investors are remaining cautious and looking for cues from the Reserve Bank of
India's monetary policy meeting to gauge its stance to get more clarity on the rupee's further course of action
Till then, momentum in the rupee could be trapped within the narrow range of 74.10-74.50 levels.''Kshitij Purohit, Lead International -
Commodities at CapitalVia Global Research Limited:''USD/INR is trading around 74.16, down 0.08 intraday, to reclaim a multi-day bottom in
the early hours of Wednesday
As a result, the Indian rupee (INR)/US dollar pair has fallen for the third day in a row, owing to broad US dollar weakness.On the domestic
front, USD/INR August opened on a negative note and was moving in a marginally sideways trend since morning
recovered and started moving sideways.Moving averages are intertwined in each other, thus, not giving any idea about the direction in
Derivatives at Kotak Securities:"Even though the spot closed flat near 74.17 but selling continued in USDINR futures
With equity markets in an uptrend, US Dollar Index weaker, and oil prices falling, Rupee is seeing strength against the US Dollar
Bias continues to be downward in USDINR
We expect a range of 73.70-74.40 range over the near term."Domestic Equity Markets Today:On the domestic equity market front, the BSE Sensex
ended 123.07 points or 0.23 per cent higher at 54,492.84, while the broader NSE Nifty climbed 35.80 points or 0.22 per cent to
strong momentum, as both Nifty/Sensex registered fresh all-time highs of 16349.45/ 54717.24, respectively
After a sharp sideways movement intra-day, indices trimmed some gains in the last hour of trade.Technically, the larger texture of the
market is positive and is likely to continue in the medium term
However, some profit booking at higher levels is not ruled out near 16350-16375 resistance levels
