Just In
Don't Miss
-
Denmark 0-1 Finland: Historic Pohjanpalo winner overshadowed by Eriksen collapse -
Eligible population in some Jharkhand villages including naxal-affected fully vaccinated -
YouTuber Bhuvan Bam Loses Parents To COVID-19; Pens Heartbreaking Note - 'Lost Both My Lifelines To COVID' -
Vivo V21e 5G India Launch Tipped; Key Features To Check Out -
New Lexus NX SUV Revealed Globally: India Launch Likely -
THE Asia University Rankings 2021: List of Indian Universities In Times Asia Rankings 2021 -
International Albinism Awareness Day 2021: What Is Albinism? Causes, Symptoms And Treatments -
10 Best Places To Visit In Nagaland In June
Rupee May Trade In The Range of 74.25 To 75.25 Next Week
The Indian rupee was extremely volatile in trade this week. In fact, the currency closed lower at 74.74 to the dollar.
"The week has been very volatile and rupee has depreciated nearly 2.5% on unprecedented bond buying plan by the RBI. Had the movement been dollar index driven, we wouldn't have seen such a sharp depreciation in the rupee. Again next week is a truncated week with two currency holidays, so we can expect the optimism over dovish Fed to limit the fall in rupee with focus on India's CPI data and impact of Covid's second wave. In USDINR spot RBI is seen intervening in the spot around 74.95 zone, so we can expect the spot to trade within 74.25-75.25," says Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.
The volatility in the currency is here to stay and the RBI may step in next week to keep the currency less volatile.
