Moneycontrol
Jan 12, 2017 10:52 AM IST | Source: Moneycontrol.com

USDINR is expected to trade positive: Angel Broking

According to Angel Broking, the Indian Rupee appreciated by 0.08 percent in yesterday‘s trading session owing weak DX in the overseas market after the conference of US President elect Donald Trump.

Angel Broking's report on currency

Indian Rupee
The Indian Rupee appreciated by 0. 08 percent in yesterday’s  trading session owing weak DX in the overseas market after the conference of US President elect Donald Trump. Trump mentioned nothing about tax cuts and infrastructure spending which were the two factors that had fueled the five - week rally in stocks and a selloff in global bond markets This affected the movement in the American currency in turn boosting the demand for the Indian Rupee. Due to the above factors, USDINR is expected to trade positive in today’s trading session tracking gains in Asian market equities.  

OUTLOOK
USDINR is expected to trade positive in today’s trading session tracking gains in Asian market equities.

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