USDINR and Cross Currency Outlook

USDINR is now at 67.70. Expect 66.50-68 trading range in coming weeks.

Important support is at 67.30 (y’day’s low).

Downside break opens door for 66.50.

Upside resistances are in the 67.95-68.15 zone.

Crude price decline is helpful for Rupee.

Any  reversal in Crude’s decline has to monitored for  negative implications for Rupee. 
Hedge Exports ( upto 60% ) on rally towards 68. Imports can be hedged on decline to 67.30/66.50.

EURINR is now at 78.75. Expect further decline targeting 77 levels.

EURINR exports be hedged on rally to  79.60.

GBPINR is now at 90.18. Expect 89. Hedge GBPINR  exports now and on rally.


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