ICICI Direct's currency report on USDINR
Rupee on Friday hovered in a tight range and ended little changed as dollar demand from importers worn the impact of supportive global cues. Dollar retreated amid concerns about strength of the US economy. While, US treasury yields moved higher after economic data showed producer prices increased more than expected in January, reinforcing expectations that the Federal Reserve will abstain from cutting interest rates until at least the middle of the year • Indian currency market will remain closed today on account of holiday.
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