USDINR
On Monday, USDINR is most likely to commence fresh week with a firm note between 73.58 – 73.68 levels as dollar scaled three-week peaks, supported by better-than-forecast U.S. retail sales data that backed expectations for a reduction of asset purchases by the Federal Reserve before the end of the year.
Indian shares retreated from record highs on Friday but posted their fourth straight week of gains as a series of government support schemes boosted sentiment across sectors.
Both the indexes gained more than 1.2% for the week, extending a run that has made them the best performing Asian equities so far this year thanks to an accommodative monetary policy and easing COVID-19 curbs.
The chief minister of Punjab, an Indian state on its northwest border with Pakistan, resigned on Saturday, deepening a crisis within the main opposition Congress party ahead of state elections scheduled before March.
Amarinder Singh, 79, submitted his resignation to the state's governor after the party's central leadership called a meeting of its state leaders later on Saturday.
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