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Mar 17, 2017 08:19 AM IST | Source: CNBC-TV18

USD-INR to consolidate around current levels: Ashutosh Raina

The 10-year benchmark bond yield, after some rally, has again settled at 6.85 percent. We expect it to trade in the 6.83-6.87 percent range today, says Ashutosh Raina of HDFC Bank.

Ashutosh Raina of HDFC Bank said, "The US rate hike, accompanied by dovish commentary, resulted in dollar sell-off, with dollar index settling close to 100. The resultant appreciation in the USD-INR pair has been pretty sharp, breaching major technical supports, and settling close to the 65.50/dollar level."

He further added, "We expect the pair to consolidate around current levels, although the appreciating bias could continue, with RBI expected to limit volatility."

"The 10-year benchmark bond yield, after some rally, has again settled at 6.85 percent. We expect it to trade in the 6.83-6.87 percent range today," he said.
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