We expect the USD-INR to trade in a range of 68-68.30/dollar for the day, says Mohan Shenoi of Kotak Mahindra Bank.
Mohan Shenoi of Kotak Mahindra Bank said, “President-elect Trump's press conference lacked details on economy resulting in dollar giving up some of its
gains. Asian economies are struggling with the threat of greater US protectionism.”
“We expect the USD-INR to trade in a range of 68-68.30/dollar for the day,” he added.
The Mexican peso weakens to a historic low after US president-elect Donald Trump warned US auto companies would face a high tax for products made south
of the border. The dollar index weakened to 101 mark.