According to Angel Broking, USDINR spot is likely to appreciate on Thursday tracking gains in the Asian equity markets.
Nirmal Bang Commodities said, “USDINR is expected to open between 64.60-64.65 and trade with a sideways movement for the day. Trading in the expected intraday range of 64.55-64.85 is recommended.”
The local currency on Wednesday closed 16 paise up at 64.73 against dollar.
Meanwhile, domestic equity markets opened in green following firm global cues. The BSE Sensex opened 73.17 points, or 0.24 per cent, up at 30374.81, while Nifty50 index opened 23.50 points, or 0.25 per cent, up at 9,384.05.
Foreign portfolio investors (FPI) sold shares worth Rs 366.08 crore on Wednesday with gross purchases and gross sales of Rs 1639.60 crore and Rs 518.22 crore, respectively.
Government bonds gave up early gains to fall for a second day on Wednesday after media reports of increasing military tensions between India and Pakistan weighed on the appetite. The benchmark 6.97% 2026 bond yield stood almost unchanged at 6.68 per cent in the previous session.
In the currency futures market, the most traded dollar-rupee May contract on the NSE ended at 64.95 on Wednesday. The May contract open interest declined 5.07 per cent from the previous day. June contract open interest increased by 1.16 per cent in the last session.
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