Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
26 April, 2024 13:54 IST
How to trade in USDINR futures
Source: IRIS | 19 Sep, 2014, 10.19AM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Dollar-rupee futures weakened on Friday against US dollar. USDINR September contract moved down 8 paise or 0.13 percent at 60.89 as against previous close of 60.97. The most active September contract recorded a high of 60.94 and a low of 60.815 after opening at 60.90.

Sushil Finance expects USDINR to trade on the positive note on the back of strengthening US economy and hint of earlier than expected interest rate hike by the Fed. 

''September USDINR prices are expected to have intraday resistance at 61.10 and prices can remain under pressure. On lower side prices if sustain below 60.85 then only fresh selling can be seen. Prices should not move above 61.30 to remain weak for the day,'' said Emkay Global Financial Services.

ICIdirect expects the US dollar to garner buying support on declines against the rupee.'' Utilize declines in the USD/INR September contract to buy. Buy USD/INR September futures in the range of 60.73-60.83 with target 61.00-61.20.''

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.

 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer