Rupee
ICICI Direct’s currency report on USDINR
US$INR is expected to consolidate near the 82.00 level ahead of the key FOMC meeting due this week. The rebound in the dollar index could limit the downside in the pair. Meanwhile, forecast of weaker manufacturing numbers from US could limit the upside momentum in the dollar • US$INR is likely to remain in the sideways range of 81.90-82.20. A move outside the range could bring more clarity in the trend. Below 81.90 it would slid towards 81.70. Similarly above 82.20 it would rise towards 82.30.
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