Evening Currency Update - March 10, 2022 - Kotak Securities

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

USDINR spot closed 25 paise lower at 76.30 on the back of long liquidation as sentiments improved due to fall in oil prices and strong show by BJP in state elections. However, Rupee is not out of the woods, as oil prices remain well supported above 100 dollars on Brent. We expect a range bound play over the near term between 76 and 77 on spot.

Source : Equity Bulls

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