USDINR
On Thursday, The domestic unit (rupee) is most likely to commence the session with a firm note between 74.75 – 74.85 levels after yesterday unit plummeted to 74.9925 – 75.0025 levels as greenback jump all over the board, Oil hit $83 per barrel as well as Government Yields surging on inflation thru energy crisis.
India's monetary policy committee is widely expected to keep the repo rate unchanged to support recovering growth on Friday, but some analysts have cited a slim chance of the Reserve Bank of India delivering a token increase in the reverse repo rate.
Last trading session (Wednesday), The Indian rupee dropped to its lowest level 75.00 since April, while the 10-year benchmark bond closed at its weakest in nearly a year-and-a-half, as a spike in global crude oil prices re-ignited concerns over imported inflation.
Day Trend: - BUY ON DIP
INTRADAY RANGE – 75.56 (75.11 – 74.65) 74.20
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