USDINR
Happy Monday, The Domestic Units (Rupee) likely to commence below 82.00 mark between 81.90-82.00 levels as dollar slid on early Asian session Monday as authorities stepped in to cap the fallout from the sudden collapse of Silicon Valley Bank, with investors hoping the Federal Reserve will take a less aggressive monetary path.
Adani Group said it had completed full prepayment of margin-linked share-backed financing worth $2.15 billion as part of its debt prepayment plan, before its deadline of March 31.
The Gautam Adani-owned conglomerate also prepaid a $500 million facility it had taken for Ambuja acquisition financing, it said in a statement on Sunday, adding that the payment comes in continuation of promoters' commitment to repay the leverage.
USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 82.21 (82.07 – 81.92) 81.79
THE DOLLAR DANCE
The SVB collapse led investors to speculate that the Fed would now be reluctant to rock the boat by hiking interest rates by a super-sized 50 basis points this month, with the spotlight firmly on Tuesday's inflation data.
The fallout from collapsed startup-focused lender Silicon Valley Bank (SVB), the biggest U.S. bank failure since the 2008 financial crisis.
Demand for U.S. dollars in the currency derivative markets surged on Friday to its highest since mid-December, after a meltdown in U.S. banking stocks ignited a wave of investor risk aversion.
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