You all should know that the rupee was trading with more than 6 paise higher today against the US dollar. Sources are saying that the rupee went very high and it closed at 71.1 today against the American currency. You all should know that the local currency opened almost flat at 71.15 against the previous close of 71.16 against the greenback. Overall, Rupee is performing very well and we loved the hike we have seen.
Overall, you all might know that the rupee gained around 10 paise on Friday and it danced a bit around in the market but not we think it is stable. You all should know that under pressure over the past few sessions we have seen gains in domestic equities. On the domestic front, a mixed set of economic numbers is keeping the volatility high for the rupee. You all should know that the US dollar is doing very great work.
Also, the reports are coming that the volatility for the currency could remain low as no major economic data is expected to release on the domestic front this month. We are expecting a bit of hike in the upcoming days. Overall, we think that the uncertainty related trade talks between the US and China is keeping most market participants on the edge. We think that the market will be active over the next weekend.
Some sources are saying, “Today, USDINR pair is expected to quote in the range of 71.05 and 71.60.” The US President Donald Trump and top White House officials dismissed concerns that economic growth may be faltering. Overall, the reports are coming clear and things are going good so far for the Indian currency. It is great news for the nation and things will be alight soon.
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