Rupee likely to depreciate amid strong dollar, risk aversion in markets; USDINR to trade in this range | The Financial Express
The Financial Express The Indian rupee is likely to depreciate slightly on Thursday amid risk aversion in equity markets, strength in US dollar and elevated crude prices. The USDINR spot price is expected to trade in a range of Rs 80.50 to Rs 82.50 in next few sessions. In the previous session, rupee depreciated against the US dollar on disappointing trade data and foreign fund outflows. A negative bias on risk aversion in global markets weighed on the local unit. At the interbank foreign exchange market, rupee opened at 81.41 and settled at 81.25 against the American currency, registering a fall of 34 paise over its previous close. Also Read: Asian stocks mixed, dollar finds footing as traders assess Fed outlook Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services “Rupee consolidated in a narrow range and volatility remained low ahead of retail sales number released from the US. The dollar was supported by stronger-than-expected U.S. retail sales data as investor
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### Response: The Financial Express The Indian rupee is likely to depreciate slightly on Thursday amid risk aversion in equity markets, strength in US dollar and elevated crude prices. The USDINR spot price is expected to trade in a range of Rs 80.50 to Rs 82.50 in next few sessions. In the previous session, rupee depreciated against the US dollar on disappointing trade data and foreign fund outflows. A negative bias on risk aversion in global markets weighed on the local unit. At the interbank foreign exchange market, rupee opened at 81.41 and settled at 81.25 against the American currency, registering a fall of 34 paise over its previous close. Also Read: Asian stocks mixed, dollar finds footing as traders assess Fed outlook Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services “Rupee consolidated in a narrow range and volatility remained low ahead of retail sales number released from the US. The dollar was supported by stronger-than-expected U.S. retail sales data as investor