USDINR
Welcome to the fresh week, we are expecting The Rupee likely to commence Monday Session between 74.90 – 75.00 levels against the greenback despite Dollar Index (DXY) extending Friday’s weakness, also the two-week south-run while taking the bids around 93.64 during early Monday morning in the Asian session.
India's monetary policy committee sees the need for continued policy accommodation as the economic recovery remains fragile, with the rise of inflation less steep than expected, minutes of the October meeting showed.
Das said volatile crude oil prices, particularly the rise since mid-September, is pushing pump prices to new highs and raising the risk that high transportation costs spill over into prices of goods and services.But the support to growth was considered more important at this stage than the risks from inflation.
India's Reliance Industries Ltd posted a 43% surge in second-quarter profit that exceeded market expectations on Friday, as rising demand and higher average selling price for oil products boosted its mainstay oil-to-chemicals business.
Day Trend: - BUY ON DIP
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