USDINR SEEMS START WITH WEAKER NOTE
- fxmethods
- Jun 27, 2019
- 1 min read
On Thursday , we expecting USDINR start trade with weaker note , opening looks between 69.23/30 levels.
Gains in domestic equities, foreign fund inflows and latest news on monsoon progress also helped in reviving domestic currency market sentiment.
However, rising crude oil prices and strengthening of the US dollar vis-a-vis other major currencies overseas capped the gains for the rupee.
INTRADAY RANGE - 68.85 ( 69.01 - 69.39 ) 69.57
On Wednesday , The Indian rupee advanced by 24 pips to close at 69.15 against the US currency in line with uptrend in domestic equities.
Interbank foreign exchange market, the rupee opened at 69.39/40 against greenback 0.56 % and advanced to a high of 69.10/11 during the day.
It finally settled at 69.15, up 21 pips against its previous close of 69.36.
Positive sentiment built up ahead of a scheduled meeting at G20 between US President Donald Trump and his Chinese counterpart Xi Jinping, later this week.
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