Rupee opens at fresh 9-month low; down 18 paise : 24.11.2016
USD-INR to trade in a range of 68.65-69/dollar for the day, Kotak Mahindra Bank.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
he Indian rupee opened at fresh 9-month low at 68.74 per dollar on Thursday. It has slipped 18 paise versus previous close 68.56. The rupee is near to its record closing low of 68.85 per dollar, which it has tested on August 28, 2013. Kotak Mahindra Bank said, "Dollar rally across the board is continuing. December US Fed rate hike is now certain. While rupee has weakened sharply against dollar, it has in fact strengthened against currencies like euro and yen." "We expect the USD-INR to trade in a range of 68.65-69/dollar for the day," he said. The dollar surged to a more than 13-year peak, bolstered by upbeat US economic data that showed the economy on track for steady growth and reinforced expectations of interest rate increases by the Federal Reserve next month and in 2017.
USD-INR to trade in a range of 68.65-69/dollar for the day, Kotak Mahindra Bank.
NIFTY FUT TREND : SELL ZONE
BANKNIFTY FUT TREND : SELL ZONE
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