Currency Update - March 11, 2022 - Kotak Securities

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

The USDINR spot closed 28 paise higher at 76.59 on the back of rebound in oil prices and hopes of a hawkish US Fed next week. Next US central bank is expected to raise rates. There has been some short covering in USD ahead of that. Over the next week, oil prices and the US Fed will drive USDINR. We expect a broad range of 76 and 77 on spot.

Source : Equity Bulls

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