Anindya Banerjee, VP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd.
"USDINR spot closed 3 paise higher at 79.77 levels. A mostly lackluster day, as demand from oil marketing companies and supply from exporters balanced the market. Over this week, the market moving event will be Fed meeting, where the central bank is expected to hike by 75 bps and sound quite hawkish. We expect an overall range of 79.50 and 80.00 on spot."