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USDINR LIKELY TO START WITH WEAKER NOTE

  • Writer: fxmethods
    fxmethods
  • Jun 17, 2019
  • 1 min read

  • On Monday , Fx - Methods expecting USDINR start week with weaker note.

  • The Domestic Pair likely to open between 69.78/69.85 levels.

  • India has raised tariffs on 28 items exported from the US with effect from Sunday in retaliation to America’s withdrawal of preferential access for Indian products from 5 June.

  • The final notification of tariffs issued by the finance ministry late on Saturday night, minutes before the tariffs came into force, does not include one item that was there in the earlier list, artemia, a type of shrimp.

INTRADAY RANGE - 69.38 ( 69.61 - 69.98 ) 70.25


  • On Friday, The rupee start with stable note , opened at 69.51 against the US dollar following a rise in crude oil prices in international markets.

  • The local currency slid 34 pips hit 69.8550/8650 then finished at 69.79/80 against the US dollar.

  • India's forex kitty increased by $1.686 billion to $423.554 billion for the week to June 7, RBI data showed Friday.

  • The reserves had touched a lifetime high of $426.028 billion in April 2018.


 
 
 

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