Sushil Finance expects USDINR to trade positive on the back of outlook on US interest rates. The Indian rupee continued its fall against the dollar for the third straight session on month-end dollar demand and profit-booking by foreign investors ahead of the end of the year.
Volumes were thin in the holiday-shortened week, and traders expect bonds and the rupee to rise only in the first week of January. Bonds and the rupee are expected to remain under pressure next week until foreign investors start allocating funds in India, it said.
Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.