Buy USDINR; target of : 74.90 : ICICI Direct
- Date: 08-Nov-2021
- Source: Money Control
- Sector:Financial Markets
- Country:Gulf
Buy USDINR; target of : 74.90 : ICICI Direct
ICICI Direct, US dollar retreated from its 14-month high and declined 0.03% on Friday mainly on a rise in risk appetite in the global markets and as US Fed Chair Powell said he was in no rush to hike interest rates.
November 08, 2021 / 08:57 AM IST
ICICI Direct's currency report on USDINR
US dollar retreated from its 14-month high and declined 0.03% on Friday mainly on a rise in risk appetite in the global markets and as US Fed Chair Powell said he was in no rush to hike interest rates. However, a sharp fall was prevented on upbeat job data and as US central bank announced $15 billion monthly tapering • Rupee future maturing on November 26 appreciated by 0.12% in Thursday’s trading session on softening of crude oil prices and rise in risk appetite in the domestic markets • The rupee is expected to depreciate today on strong dollar and surge in crude oil prices. Dollar is gaining strength on stronger job data and as US Federal Reserve announced its asset tapering. Additionally, crude oil prices may rise on renewed supply concerns after Opec+ producers agreed to stick to their plan of
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