USDINR
On Friday USDINR is very much likely to commence between 80.85 – 80.95 levels as Dollar maintain firm north way move after FED rate hike as well as hawkish comments.
The Domestic Unit (Rupee) hit all-time lower at 80.86/87 levels against greenback down from 79.9750/9850 in the previous session. We are witnessing the lack of country central bank action to protect domestic unit depreciation worsen.
It was the biggest single-day fall for the local unit since Feb. 24.
The Indian government is not averse to a weaker rupee in line with global market fundamentals, a senior official told Reuters, at a time when the central bank's intervention has tried to moderate the depreciation in the Indian currency.
Nations are being forced to go it alone in erecting defences against the relentless strength of the almighty greenback, with no sign that governments are willing to act in concert.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - HOLD
INTRADAY RANGE – 81.79 (81.18 – 80.58) 79.97
HOLD YOUR EMOTIONS!!
🍕🏠🎉
HAPPY WEEKEND
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