We expect local government banks and other importers to be buyers of USD below Rs 66.30/USD, says Agam Gupta, Standard Chartered.
Agam Gupta of Standard Chartered said, "The USD-INR pair should open lower at 66.35-66.40/dollar as risk sentiment has improved overnight. We expect
local government banks and other importers to be buyers of USD below 66.30/dollar. Upticks to 66.55/dollar will see exporter hedging going through."
"We expect a range of 66.25-66.55/dollar for the day. Market participants will continue to keep an eye on global risk sentiment for further cues," 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 Sep 14, 2015 08:53 am