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16 December, 2017 04:56 IST
Buy USD/INR August futures in 64.10-64.20 range: ICICIdirect
Source: IRIS | 11 Aug, 2017, 09.06AM
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ICICIdirect expects the USD to find supports at lower levels. ''Utilise downside in pair to go long on USDINR. August futures in the range of 64.10-64.20 with target 64.40-64.50.''

The rupee fell to its lowest in over a week against the USD, in line with its Asian peers, as shares continued to slide on risk aversion triggered by growing tensions between North Korea and the US. USD fell against major currencies as rising risk-off sentiment on account of North Korea-US geopolitical escalation weighed on USD.

Japanese Yen continue to rise sharply supported by safe haven buying while British pound was weighed by lower than expected economic data.

In the currency futures market, the most traded dollar-rupee August contract on the NSE ended at 64.22. The August contract open interest declined 14.16% from the previous day. September contract open interest increased 4.43% in the previous session.

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