Today, USD-INR pair is expected to quote in the range of 69.70 and 70.50, says Motilal Oswal.
Moneycontrol News
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The Indian rupee has recovered from the lows and trading higher by 20 paise at 69.95 per dollar against Friday's close 70.15.
Rupee in the last few sessions has been strengthening against the US dollar but as the holiday week starts volatility in case of the rupee could start to move lower. Last week, dollar broadly came under pressure after the Federal Reserve in its policy statement mentioned that rate hike in the coming year could be restricted to two compared to earlier estimates of three rate hikes next year, said Motilal Oswal.
On the other hand, some reports showed that the US President may be considering firing Fed Chairman as his frustration with the central bank chief intensified following this week’s interest-rate hike. Today, USD-INR pair is expected to quote in the range of 69.70 and 70.50.First Published on Dec 24, 2018 02:00 pm
