USD-INR trading range for the day is 64.50-64.80/dollar, says Mohan Shenoi of Kotak Mahindra Bank.
Mohan Shenoi of Kotak Mahindra Bank said, "Rupee is rangebound, consolidating after sharp gains in March. USD-INR trading range for the day is 64.50-64.80/dollar."He further added, "Forecast of a better monsoon and overnight rally in US treasuries has improved sentiments in the bond market. Market is expecting issuance of a new 10-year benchmark resulting in spread compression. Trading range for the day is seen at 6.83-6.86 percent."