Evening Currency Updates - March 7, 2022 - Kotak Securities

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

"The USDINR spot closed at an all time high near 77.96. Oil prices shock, rise in US Dollar Index and relentless FPI outflow in the equity market caused Rupee to fall towards an all time low. However, aggressive intervention from RBI has kept volatility low. We expect the Rupee to remain under pressure till oil prices fall. However, volatility will be very high. A range of 76.50 and 78.50 can be seen over the near term."

Source : Equity Bulls

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