USD-INR to trade between 64.90-65.20: Mohan Shenoi
6.79% GoI 2027 expected trading range for the day is 6.69-6.73 percent, says Mohan Shenoi of Kotak Mahindra Bank.
Mohan Shenoi of Kotak Mahindra Bank said, "Rupee has gained from exporter participation and revival of carry trades post RBI announcing status quo on interest rates. USD-INR trading range for the day is seen between 64.90-65.20."
He further added, "Rising trajectory of CPI, status quo on RBI policy, reduction in SLR and HTM holdings by banks and worries on Fed's unwinding plans has made local bond market bearish.""10-year yield has jumped up to 6.70 percent following lack of cues from RBI for further rate cuts. 6.79% GoI 2027 expected trading range for the day is 6.69-6.73 percent," he said.