Indian Rupee is trading with mild losses against US dollar, Euro and British Pound. Against the US dollar, Indian rupee trading 20/25 paise weaker at 62:05/08.
Upmove in the US 10 year yields is hurting the emerging markets (EM) and Asian currencies. However, thin year end liquidity has not allowed for a bigger move in the pair.
In the morning,?state run banks were heard to be buying US dollars, probably on behalf of PSU oilers. Tomorrow we can expect Indian rupee in a range between 61:80/85 and 62:15/20 on spot.
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By Anindya Banerjee, Senior Manager, Broking-Currency Derivatives, Kotak Securities
(Views expressed here are those of the author)
