On Tuesday , USDINR seems opened weaker between 68.96 / 69.03 levels.
On overnight Dollar on demand after euro fall below 1.13 levels, tariff loom emerge for EU.
Emerging market currencies under-pressure.
Oil and bond yields can provide some cushion for rupee strength, but still central bank intervention could control sharp appreciation.
Conclusion : -
Importer & Exporter : - Use option strategy.
INTRADAY RANGE - 68.65 ( 68.80 - 69.15 ) 69.33
On Monday, The Rupee opened 12 pips higher at 68.90/91 against the US dollar on account of some selling in American currency by banks and exporters amid sustained buying by foreign institutional investors.
Foreign portfolio investors (FPI) invested a net of Rs 2,272.74 crore in equities and Rs 8,111.80 crore in the debt segment, taking the total net investment to Rs 10,384.54 crore in June.
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