Effect of Budget on USDINR

                                        

Rupee opened less as compared to previous day.

The Indian rupee opened less at 71.14  per dollar on Tuesday 29 jan 2019 as compared to the previous close of 71.10.

Rupee is continuing consolidation in a narrow range of 70.70 and 71.40(Spot) and as the interim budget is about to come this week volatility could be restricted to a range. The traders are expected to remain cautious as the Budget announcement is coming and due to which rupee could be in broad range. Global crude oil prices could break narrow range and could witness Bullishness as after the U.S. government slapped sanctions on Venenzula’s oil firm PdVSA in a move aimed at severely curbing the OPEC member's crude exports to the United States. Today, USDINR pair is expected to be in the range of 70.70 and 71.50, said Motilal Oswal.

News from Moneycontrol.

https://www.adviserstreet.com/