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15 December, 2017 23:25 IST
Buy USD/INR August futures in 64.25-64.35 range: ICICIdirect
Source: IRIS | 16 Aug, 2017, 09.09AM
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  ICICIdirect expects the USD to find supports at lower levels. ''Utilise downside in pair to go long on USDNR. August futures in the range of 64.25-64.35 with target 64.55-64.65.''

The rupee ended little changed against the USD amid thin trade, on a recovery ahead of a national holiday. July retail inflation rose to 2.36%, higher than expectation of 2.05%. The USD recovered some of its steep losses against major currencies as well as emerging currencies.

Higher advance retail sales data for July at 0.6% compared to previously 0.3% supported USD. Japanese Yen lost against the USD as risk from North Korean war rhetoric subsided.

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 2.44% from the previous day. September contract open interest increased 1.33% in the previous session.

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