Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
27 May, 2018 15:03 IST
Buy USD/INR March futures in 66.80-66.90 range: ICICIdirect
Source: IRIS | 09 Mar, 2017, 09.00AM
Comments  |  Post Comment

ICICIdirect expects  the US dollar to find supports at lower levels. ''Utilise downsides in the dollar to go long on the USDINR pair. March futures in the range of 66.80-66.90 with target 67.15-67.25.''

The rupee fell for the first time in three sessions against the dollar, in line with most Asian currencies, as dollar demand weighed while profit booking in domestic equities raised concerns on foreign fund outflows. The USD gained against most currencies including the rupee due to sharply rising US yields.

The Japanese Yen continued to remain under pressure while 115 levels remain crucial for the pair to move higher. US February employment data remains in focus post better-than-expected ADP employment data.

In the currency futures market, the most traded dollar-rupee March contract on the NSE ended at 66.89. The March contract open interest fell 3.16% from the previous day. April contract open interest rose 3.11% from the previous day.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Expert Speak
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer