We expect the USD-INR pair to trade in 63.30-63.80/dollar range in near term, says Ashutosh Raina of HDFC Bank.
The Indian rupee opened with a gap down of 7 paise at 63.57 per dollar on Tuesday against previous close of 63.50. Ashutosh Raina of HDFC Bank said, "The positive developments around Greece have resulted in the dollar gaining against most of the major currencies and increasing the prospects of a US Fed rate hike this year." He further added, "The USD-INR currency pair continues to trade in the 63-64/dollar range with intervention capping the gains. We expect the USD-INR pair to trade in 63.30-63.80/dollar range in near term."
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The Indian rupee opened with a gap down of 7 paise at 63.57 per dollar on Tuesday against previous close of 63.50. Ashutosh Raina of HDFC Bank said, "The positive developments around Greece have resulted in the dollar gaining against most of the major currencies and increasing the prospects of a US Fed rate hike this year." He further added, "The USD-INR currency pair continues to trade in the 63-64/dollar range with intervention capping the gains. We expect the USD-INR pair to trade in 63.30-63.80/dollar range in near term."
For More Detail Visit Our Site -- http://www.allianceresearch.in/
Or Call on -- 0761-4032175,9993716323
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