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    HomeNewsBusinessMarketsExpect USD-INR to trade in 64-64.35 range: Mohan Shenoi

    Expect USD-INR to trade in 64-64.35 range: Mohan Shenoi

    USD-INR expected to trade in a range of 64-64.35/dollar today, says Mohan Shenoi of Kotak Mahindra Bank.

    June 15, 2017 / 08:13 IST

    Mohan Shenoi of Kotak Mahindra Bank said, "As expected, US FOMC hiked the rate by 25 bps hinting one more rate hike in 2017. As the event was already priced-in, global currency market reaction was muted. Rupee has benefitted from global flows."

    "However, Reserve Bank of India (RBI) intervention is preventing sharp gains. USD-INR expected to trade in a range of 64-64.35/dollar today."

    "Lower than expected India CPI and WPI have triggered market expectations of monetary easing making local bond market bullish. 6.79 GOI 2027 expected to trade in a range of 6.43-6.48 percent today," he said.

    first published: Jun 15, 2017 08:12 am

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