Evening Currency Updates - Dec 23, 2021 - Kotak Securities

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

"Rupee appreciated another 31 paise today to close at 75.23, the highest level since 6th December. Thanks to a combination of exporter selling, corporate $ flow, and mild FPI selling, caused the USDINR pair to come-off. With holidays coming, liquidity conditions are spotty. It has been seen over the last 6/7 years, that Rupee tends to appreciate during the second half of December due to year-end flows, and this time too we are witnessing a similar trend. If the pattern continues and global risk sentiments remain buoyant then USDINR can decline towards 74.80 levels in the coming days. The range for the near term remains between 74.80 and 75.50."

Source : Equity Bulls

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