On Shine Monday , USDINR likely to open firm note within range , Opening could be 68.93/69.00 levels.
Domestic Unit getting support from Inflow in bonds market despite yields deteriorating.
India's foreign exchange reserve touched a life-time high of $426.42 billion after it surged by $4.215 billion in the week to June 21, RBI data showed.
Conclusion : -
Importer - For short term , cover on every 20-25 pips.
Exporter - For short term , Any spike book forwards in tranches. If get any Zero Cost Option structure must go for it for the month of JULY expiry.
INTRADAY RANGE - 68.65 ( 68.82 - 69.16 ) 69.31
On Friday, The rupee strengthened in early trade to trade above 69-level against the US dollar for the first time since April 11. The local currency was trading 14 pips higher at 68.88 per dollar in intraday trade following easing crude oil prices and weaker greenback.
USDINR finished at 69.02 after hitting intraday high at 69.12 levels.
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