Rupee - Evening Currency Update - Feb 2, 2022 - Kotak Securities

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

In lackluster trading, the USDINR spot closed 5 paise lower at 74.84. PSU banks were heard to be on the offer. Difficult to say whether they were doing the offer from the central bank but if RBI is on the offer then it could profit-taking move ahead of March year-end. High domestic bond yields and elevated oil prices are threats to the Rupee but in spite of that Rupee is not showing a lot of resilience. Over the near term we expect a broad range of 74.40 and 75.10 on spot.

Source : Equity Bulls

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Rupee EveningCurrencyUpdate KotakSecurities INR