Currency Derivative Evening Note Today also Rupee continued to depreciate for the third consecutive. Rupee traded range bound today as the domestic share markets traded flat & ended near to the yesterdays close. The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies traded positively as GBP & Euro continued to trade weak against the mighty. Taking cues from this Rupee depreciated by almost half per cent against dollar during the day. Resistance for USDINR (Spot) pair is at 63.00 - 63.10 levels; if these levels are breached convincingly then expect Rupee to depreciate further. The trading range for the USD/INR pair is expected to be within 62.20 to 63.20.
Posted on: Tue, 24 Sep 2013 12:05:45 +0000
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