ICICI Direct's currency report on USDINR
Spot Currency
The rupee depreciated marginally as weakness in domestic equities put pressure on the currency. For the new series, the option concentration suggest a range of 73-73.50 ahead of Union Budget • The DXY dollar index recovered most of the declines seen yesterday and closed near highs near 90.7. The Federal Reserve maintained its super-accommodative monetary policy on Wednesday, but a brighter medium-term outlook suggests that a change may be on the horizon.
Currency futures on NSE
US$INR Feb futures contract (NSE) | View: Bearish on US$INR |
Sell US$INR in the range of 73.23-73.27 | Market Lot: US$1000 |
Target: 73.05/ 72.90 | Stop Loss: 73.37 |
Support: 73.05/72.90 | Resistance: 73.37/73.45 |