Evening Currency Updates - Dec 14, 2021 - Kotak Securities

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd.

"USDINR spot closed 9 paise higher at 75.86, highest level since June 2020. Thanks to a combination of weak equity and stronger US Dollar Index, USDINR pushed higher. However the gains were limited as traders are staying away from making large bets ahead of the crucial US FOMC meeting tomorrow night. We expect a range bound market tomorrow and volatility can increase post FOMC. An expected range is 75.60 and 76.00 levels over the near term."

Source : Equity Bulls

Keywords

CurrencyUpdates INR USD KotakSecurities