Evening Currency Update - March 22, 2022 - Kotak Securities

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

"USDINR spot closed 6 paise higher at 76.17, after a volatile session. A sharp run up in oil prices in the morning, coupled with spike in US yields caused USDINR to aim for the resistance level of 76.50. However, selling from exporters and PSUs pulled the pair back below 76.20 on spot. As oil prices reversed, equity markets rallied. This added further pressure on the USDINR. Over the near term, we expect USDINR to trade within a range of 75.80 and 76.50."

Source : Equity Bulls

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CurrencyUpdate KotakSecurities INR Rupee