On Friday , it could be the worst opening for the USDINR after long time range bound opening. Dollar index sharply up on anticipation of second wave of Covid19 , safe haven on demand.
Yesterday, USDINR mostly getting resistance on upper level , Pair was stuck in range between 75.7325 - 75.89. Rupee finished at 75.7750 against greenback.
Chinese smartphone brands in India turn to expensive imports as plants struggle.
The Reserve Bank of India (RBI) proposed on Thursday stricter governance rules for commercial banks, following a series of financial and governance problems at lenders in recent months.
Annual monsoon rains key to farm output and economic growth have covered more than a third of India and could spread further into its eastern and western regions this week, the weather office said on Thursday.
INTRADAY RANGE - 75.68 ( 75.83 - 76.18 ) 76.38
GLOBAL CURRENCIES
The safe-haven Swiss franc and the yen held on to gains on Friday while the U.S. dollar also held firm against riskier currencies after global stock prices tumbled on renewed doubts over the prospects of a quick recovery in the global economy.
The euro stood at $1.1299, off Wednesday's three-month high of $1.14225.
The British pound slipped to $1.2582 from Wednesday's high of $1.2812.
The Australian dollar tumbled to $0.6838, having fallen 2% in the previous session, the biggest daily fall since the market turmoil of March.
The Swiss franc rose to 0.94395 per dollar, having hit a three-month high of 0.9376 on Thursday.
The yen also rose to 106.79 yen per dollar. It hit a one-month high of 106.58 on Thursday, having gained 3.1% from a 2-1/2-month low hit just a week ago.
The market horizon is littered with risks that could trigger bigger moves in currencies even as the Federal Reserve and other central banks double down on the policies that have anchored volatility close to historic lows.
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