Dips below Rs 66/USD will continue to attract demand from importers and any spike to the Rs 66.30-66.40/USD zone should lead to hedging by exporters, says Agam Gupta, StandChart Bank.
Agam Gupta, StandChart Bank said, "The USD-INR should open around Rs 66.15-66.20/USD. We expect the market to keep a close watch on global equities and risk sentiment, especially in light of an increase in the probability of a September rate hike by the US FOMC. Dips below Rs 66/USD will continue to attract demand from importers and any spike to the Rs 66.30-66.40/USD zone should lead to hedging by exporters. We expect a Rs 65.95-66.35/USD range for the day."Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Aug 31, 2015 08:54 am