USDINR LIKELY TO START WITH POSITIVE NOTE
- fxmethods
- Jun 24, 2019
- 1 min read
On Monday , USDINR looks start week with positive note , opening range likely to be 69.50/57.
Domestic pair entering in expiry week.
Dollar back foot will be supportive for Indian rupee.
Central Bank Intervention as well as Brent Oil rally is matter of concern.
INTRADAY RANGE - 69.08 ( 69.36 - 69.60 ) 69.72
On Friday, The rupee opened 33 pips lower at 69.75/76 against the US dollar on concerns over the deteriorating macro environment. Earlier in the day, crude oil prices jumped over 1% amid US-Iran tensions. Both of these items are key constituents of India's bulging import bill.
The local currency strengthened by 24 pips to 69.44 against the US currency on Thursday.
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