View on Rupee - Anindya Banerjee - Kotak Securities

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

"Tensions have escalated between China and US as latter has accused the former of suppressing information on COVID outbreak, that originated in China and has since spread around the globe. US has threatened to impose higher tariffs to penalize China and even warned of stringent action. As long as this kind of rhetoric continues to dominate the headlines, Asian currencies, along with Chinese Yuan can depreciate against US Dollar. Rupee cannot be immune. Therefore, over the near term, Rupee would remain an interplay between COVID situation and the Sino-US tensions. A range of 75.00 to 76.50 may unfold over the near term."

Source : Equity Bulls

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