USD-INR to trade in range of 67.30-67.60/USD: Mohan Shenoi

We expect the 10-year benchmark bond yield to trade in a range of 6.39-6.45 percent for the day, says Mohan Shenoi, Kotak Mahindra Bank.

December 08, 2016 / 09:08 IST

Mohan Shenoi, Kotak Mahindra Bank said, "US Fed rate hike this month is certain. Market focus is now on pace of future hikes. RBI did not cut policy rates as expected resulting in strengthening of the rupee. The USD-INR is expected to trade in a range of 67.30-67.60/USD for the day."He further said, "The bond market reacted sharply to the RBI not delivering a rate cut. Rollback on CRR and other liquidity measures did not help sentiment. We expect the 10-year benchmark bond yield to trade in a range of 6.39-6.45 percent for the day."

first published: Dec 8, 2016 09:08 am

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