With RBI presence in the market, the USD-INR pair is expected to trade today in a range of 68.35-68.65/dollar, says Mohan Shenoi of Kotak Mahindra Bank.
The Indian rupee opened higher by 9 paise at 68.47 per dollar on Thursday versus 68.56 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "Oil prices seem to be stabilising in the USD 30-40/bbl range which could calm the volatile currency markets." "The next big trigger for currency markets in India will be the Union Budget.
With RBI presence in the market, the USD-INR pair is expected to trade today in a range of 68.35-68.65/dollar," he added. Sterling tumbled to a seven-year low on heightened fears of a possible British exit from the European Union, while the safe-haven yen gained broadly.
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