On Tuesday , USDINR opened 14 pips firm @ 69.75/76 verses Monday closed at 69.89/90 levels.
Rupee enjoying heavy FII inflow ahead of general election anticipation on Mr. Narendra Modi will win again.
Foreign institutional investors (FIIs) bought equities worth a net Rs 3,810.60 crore on Monday, while domestic institutional investors sold shares to the tune of Rs 1,955.55 crore, provisional data showed.
Bond markets are cautious ahead of inflation data which is likely to be higher from January reading of 2.05 per cent. An expectation of higher bond issuance for next year also put pressure on government bonds.
INTRADAY RANGE - 69.45 ( 69.69 - 69.90 )70.12
On Monday, Interbank foreign exchange, the rupee opened on a positive note at 70.00 against the dollar and hit a high of 69.8225 and low of 70.04. It finally settled the day at 69.89, showing 25 pips gains.
The Indian rupee Monday advanced by 25 paise to close at 69.89 against the US dollar in line with a strong rally in domestic equities, reflecting positive investor sentiments.
USD/SEK and USD/NOK retreated and re-entered familiar trading ranges after reaching multi-year highs. The technical outlook may be complicated by volatility from the upcoming Brexit vote.
Sterling rose sharply on Tuesday as speculation swirled that British Prime Minister Theresa May might be closer to securing approval for her Brexit deal.
Comments