USDINR
On Tuesday Morning, The Rupee is most likely to commence session within a range between 74.60 – 74.70 levels against the greenback as the dollar and the euro both eased on Monday after European Central Bank President Christine Lagarde calmed market expectations of a quick hike in interest rates that pushed regional bond yields in Europe up to multi-year highs.
Indian Prime Minister Narendra Modi said on Monday his government was trying to keep inflation in check and that doing so has been a priority for him since coming to power in 2014.
India's central bank is expected to hold its repo rate steady on Thursday but several economists are expecting an increase in the reverse repo rate as part of a process to reduce surplus liquidity poured into markets earlier in the pandemic.
Indian Indices recorded their worst session in two weeks on Monday, dragged by private-sector lenders and consumer stocks, while a slew of strong earnings from state-controlled banks helped limit more losses.
Day Trend: - BUY ON DIP
INTRADAY RANGE – 74.85(74.75 – 74.64)74.54
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