Market Commentary

Evening Currency Updates - Dec 7, 2021 - Kotak Securities



Posted On : 2021-12-07 20:31:41( TIMEZONE : IST )

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

"USDINR spot closed flat at 75.42/43 levels. Lumpy corporate $ outflows blunted the positive impact from positive risk sentiments. Over the remainder of the week, USDINR may see volatility rise post RBI. However, the RBI may sound a little hawkish while maintaining the status quo on rates. A hawkish stance can fuel higher volatility in USDINR. We expect a range of 75.20 and 75.80 on spot over the near term, with a slightly upward bias."

Source : Equity Bulls

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