Sell USDINR; target of : 82.80 : September 13, 2023: ICICI Direct

Rupee

ICICI Direct's currency report on USDINR

Rupee appreciated a bit on Tuesday to 82.92 ahead of the key economic numbers. Meanwhile the stronger dollar and higher crude oil prices checked its gains. The pair is expected to face the hurdle near 83.10 and move back towards 82.80 amid strong factory output data. The Factory output grew to five month high of 5.7% in July. Meanwhile, sticky inflation numbers, which is still above RBI’s higher band of 6% could force the RBI to keep its liquidity conditions tight. Now the investors will eye on today’s key US CPI numbers, which could provide more clues to the future rate path. USDINR is expected to consolidate in the range of 82.80-83.10.

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.

13092023 - curre