Moneycontrol Be a Pro
Get App
Last Updated : Aug 26, 2015 08:53 AM IST | Source: CNBC-TV18

USD-INR pair seen between 65.50-66.50/USD: Ashutosh Raina

Some smooth action by the RBI to support the currency and limit the volatility helped the USD-INR pair to close near Rs 66/USD figure, says Ashutosh Raina, HDFC Bank.


Ashutosh Raina, HDFC Bank said, "The People's Bank of China (PBoC) reduced the benchmark interest rates by 25 bps and RRR by 50 bps to stem the turbulence in the Chinese and global markets. Some smooth action by the RBI to support the currency and limit the volatility helped the USD-INR pair to close near 66/USD figure. We expect the USD-INR pair to trade in the 65.50-66.50/USD range in the short term."

"We expect the 10-year benchmark bond yields to continue to trade in the 7.80-7.90% range, tracking the currency movements," he added.



The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Aug 26, 2015 08:47 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant