ICICI Direct's currency report on USDINR
Rupee edged lower on Monday amid higher crude oil pries. The pair moved in a narrow range during the day as the dollar demand remain subdued due to the Labour day holiday in US. The rupee is expected to appreciate today amid improving risk appetite in global equities. Increasing hopes of China’s stimulus and Fed pause in its interest rate hike cycle could limit the upside in the dollar. Further, expectation of weaker economic numbers from US could also weigh on the dollar. USDINR is expected to dip towards 82.55, as long as it trade under 82.90 level. Only a move below 82.55, it would weaken further towards 82.40.
For all Currency report, click here
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.
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!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
