![]() ![]() ![]() If the 80 mark is taken out convincingly, the panic button could get triggered and 81.00 to 81.50 levels will remain on the cards. The intraday price action movement clearly signifies that there is a heavy demand for the dollar pushing the USDINR pair on the upside. So far the Bank has offloaded over $50 billion in reserves but as the global sentiments are negative, it hasn’t helped the rupee more than slowing down the depreciation pace. “USDINR has been trading between 80-80.25 levels in NDF in the past few sessions and in onshore the RBI seems to be protecting the breach above 80 levels. Dollar / Indian Rupee FXIDCUSDINR See on Supercharts Overview News Ideas Technicals USDINR chart Today 0.17 Week 0.64 1 month 0.37 6 months 2.15 Year to date 0.59 1 year 6.17 5 years 22.13 All time 925. We expect the USDINR(Spot) to trade with a positive bias and quote in the range of 79.70 and 80.40.” Amit Pabari, MD, CR Forex Advisors Current USD to INR exchange rate equals 82.2060 Rupees per 1 US Dollar. Better-than-expected economic data could extend gains for the dollar. Apart from ECB policy statement, focus will also be on the Philly Fed Manufacturing Index that will be released from the US. Market participants remain cautious ahead of the important ECB policy statement that will be released today. “Rupee consolidated in a narrow range for the whole of the session but was weighed down in the latter hour of the session following broad strength in the dollar against its major crosses. NSE warns investors against entities running dabba trading activities Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services We could see a range of 79.60 and 80.40 on spot.” Over the near term, we expect USDINR to trade with an upward bias, driven by fragile global risk sentiments. ![]() Demand for USD from oil marketing companies and weakness in Yuan added to the demand for USDINR. “USDINR spot closed 5 paise higher at 79.99, high of the day. 1 Indian rupee to US dollars Convert INR to USD at the real exchange rate Converted to 1.00000 INR 0. Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd New customers get 82. At the interbank foreign exchange market, the local unit opened at 79.91 and later slid to a close at a low of 80.05 to a dollar, down 13 paise from its previous close. US Dollar to Indian Rupee 1 80.92 Remitly offers dependable rates for USD to INR with no hidden fees. In the previous session, rupee declined to close below the 80 mark for the first time against the US dollar due to strong dollar demand from importers amid high crude oil prices. USDINR(Spot) is expected to trade with a positive bias and quote in the range of 79.70 and 80.40. However, losses may be capped by falling crude prices, FII selling slowdown and positive equity markets, according to analysts. The Indian Rupee is likely to depreciate on strong dollar, fragile risk sentiments in global markets. ![]()
0 Comments
Leave a Reply. |