USDINR
On Wednesday, The Rupee seems to commence session between 74.15 – 74.25 levels hammered by rising Government Bond yields globally as the greenback dollar traded near its highest levels of the year, after driving higher with U.S. yields and benefiting from investor nervousness about the Federal Reserve starting to withdraw policy support just as global growth headwinds gather.
Last Trading session (Tuesday), Inter-bank market USDINR opened at 73.7950 hit an intraday low at 73.7275/73.7375 levels before jump day high at 74.13/14 levels after the European session opened. Pair finished the session at 74.05/06 levels.
Indian shares closed lower for the first time in four sessions on Tuesday, as private banks and technology stocks dropped, with default risks surrounding China Evergrande Group denting sentiment further.
India, the world's third-biggest oil importer and consumer, signalled that a spike in oil prices would speed up the transition to alternative energy sources.
India expects that technology companies will not use encryption as an excuse to hold up investigations and will play their part in bringing criminals to justice, the top government official in India's technology ministry said.
Day Trend: - BUY ON DIP
Comments