EURINR is expected to depreciate today: Angel Broking

Angel Broking's currency report on EURINR

EURUSD gained 0.3 percent last week while EURINR fell marginally during the same time frame. The shared currency heaved a sigh of relief as weaker DX in the latter part of the week supported an upside.  However, sharp upside was limited as ECB’s commitment to hike rates in the summer of 2019 has suggested that the tone is still dovish. In its latest announcement, the ECB said that the pace of bond buying will fall from 30 billion euros ($34 billion) in September 2018 to zero in December 2018.

OUTLOOK
EURINR is expected to depreciate in today’s session. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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