As per our finding , We expect USDINR start Tuesday session in range bound with negative base , Pair getting support in lower levels. Importers must start covering short term position between 73.60 - 73.70 levels and Exporters wait for 73.90 levels break out for near term position.
On last trading session, Rupee witnessed an intra-day high of 73.5275 and a low of 73.8650 against the greenback.
On the domestic equity market front, BSE benchmark Sensex was trading 566.17 points higher at 37,954.83, and the broader NSE Nifty rose 174.05 points to 11,224.30.
More than 1 million people have died of COVID-19 around the world as of Tuesday, according to a Reuters tally, with the pace of fatalities picking up as infections again surge in several countries.
The MPC which was scheduled to meet between Sept. 29 to Oct. 1 but will now meet at a later date which is yet to be announced, RBI said on Monday.
All 66 respondents in a Reuters poll expect the repo rate to remain unchanged at 4.0% and a large majority see no cuts until the January-March quarter. The RBI will then likely stay on hold until the end of 2021.
INTRADAY RANGE - 73.28 ( 73.52 - 73.92 ) 74.26
GLOBAL HIGHLIGHTS
Things to Watch : - Bank Stocks, Presidential Debate, Consumer Data.
Dollar Continues Downward Trend Ahead of Trump-Biden Debate.
Pound Hits One-Week High Ahead of Brexit Talks; BoE Cools Negative Rate Fears.
Pound Advances on Conciliatory Tone in Brexit Trade Negotiations.
EURUSD Price May Reverse at Support Level of $1.15.
Oil Holds Gains on Stimulus Talk as Demand Concerns Linger.
Gold Pops As Dollar Dips From Highs, Near-Term Still Fragile.
Venezuela Is Buying Iranian Oil With Planes Full Of Gold.
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