We expect the USD-INR to trade in a range of 68.05-68.25/dollar today, says Bhaskar Panda of HDFC Bank.
The US dollar index hit a one-month low Thursday after President-elect Donald Trump disappointed investors in a press conference. Rather than discussing infrastructure spending, deregulation or tax cuts, Trump emphasized a tough position on trade and a border tax.
The Washington Post perhaps saw it coming when during the US presidential debates, the newspaper behind the Watergate expose, asked its readers to watch the Mexican Peso before calling the winner.
"Nothing that Trump has said made it any less likely that Mexico is in trouble. They've been dealt a bad hand," said Thierry Albert Wizman, global interest rates and currencies strategist at financial advisory firm Macquarie.
We expect the USD-INR to trade in a range of 68-68.30/dollar for the day, says Mohan Shenoi of Kotak Mahindra Bank.
A number of global fund managers say they are buying emerging market assets for 2017 after the beating the sector has taken since the U.S. election in November, even though credit rating agencies have a less positive outlook.
Instead of latching onto the uncertainties, the market vaulted higher on the president-elect's promise of changing the tax code and launching a huge spending program to stimulate the economy.
Rupee is expected to gain marginally today on the back of positive equity markets, says Mohan Shenoi of Kotak Mahindra Bank.
The greenback plunged 3.8 percent to 101.50 yen while it lost almost two percent against the euro, which bought USD 1.1224 in Tokyo trading.
Speaking to CNBC-TV18 Consulting Editor Udayan Mukherjee said that if Donald Trump goes on to win, I still hope there is a twist in the tale. If Trump wins, it is a black day, he said
Investors moved into bonds and stocks cratered as traders questioned whether Democrat Hillary Clinton could win the race, as expected. The Mexican peso fell sharply against the US dollar.
The rupee could trade at 66.55-67.25 band, says Bansi Madhvani of India Ratings.
Ramesh Damani, Member, BSE said that Sensex carries a great importance for the Indian economy. “The story of Sensex is ingrained in our memory,†he said, adding that the BSE is the cathedral to capitalism. Sensex will be compounding at a rate of 15-16 percent as it has been doing so far.
The Mexican Peso was up 1.93 percent against the greenback, at the highest levels in nearly a month, as the second US presidential debate kicked off, signalling that the markets were lengthening odds on a Trump victory.
Although emerging market currencies have depreciated significantly, Brazilian real and Indian rupee have fallen more than the others, says Nirmal Bang research report.