USD-INR to trade in range 66.60-67/USD: Ashutosh Raina

The hawkish hold by RBI in the recent credit policy led to massive sell-off in bonds with 10-year yields settling at 6.85 percent, says Ashutosh Raina, HDFC Bank.

February 10, 2017 / 08:59 IST

Ashutosh Raina, HDFC Bank said, "The rally in USD-INR pair continues on the back of global risk-on sentiment, even though dollar index has moved higher to 100.65 from recent lows. We expect the pair to trade in the 66.60-67/USD range for today."He further said, "The hawkish hold by RBI in the recent credit policy led to massive sell off in bonds with 10-year yields settling at 6.85 percent. Expect the 10-year yields to trade in 6.80-6.90 percent range today."

first published: Feb 10, 2017 08:59 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347