ICICI Direct's currency report on USDINR
The rupee depreciated by 12 paise to settle at 73.04 against the US dollar on Thursday, tracking muted domestic equities and a strengthening American currency. • The US Federal Reserve kept its bond purchase program and benchmark interest rate unchanged Wednesday and delivered a slightly more dovish message by acknowledging recent moderation in the economic activity and calling for higher inflation.
Currency futures on NSE
|US$INR Feb futures contract (NSE)||View: Bearish on US$INR|
|Sell US$INR in the range of 73.28-73.32||Market Lot: US$1000|
|Target: 73.05/ 72.90||Stop Loss: 73.42|
|Support: 73.05/72.90||Resistance: 73.42/73.49|