November 28, 2023 / 11:40 AM IST
rupee
ICICI Direct’s currency report on USDINR
Rupee ended at record closing on Friday tracking weakness in other Asian currencies. Further, rupee slipped on dollar demand from foreign banks • Rupee is likely to appreciate today amid weak dollar and decline in US treasury yields . Yields are moving south on expectation that US Federal Reserve is done with tightening monetary policy and could start cutting rates by the first half of next year . Additionally, yields are extending their declines on weaker than expected economic data from US . Moreover, investors are cautious ahead of slew of events and data this week that could determine the future path of interest rates globally . USDINR Dec may slip to 83 .35 level as long as its stays below 83 .50 levels.
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