Dollar Rupee Chart

Daily Chart

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Weekly Chart

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Dollar Rupee this week was moving between range of 67.30 to 67.80 from Monday to Thursday but on Friday it shot up to 68.00 after FED interest rate increase and ECB decision to end Bond Buying Program. After Friday close, US imposed tariffs on Chinese goods and in retaliation, China imposed tariffs on US goods thus restarting a fresh trade war and a Risk off environment. Dollar rupee is trading at 68.47 in offshore market, a 45 paise up move after the friday Close. It has closed all technical resistances in daily chart.  In weekly chart, the next resistance is 68.63 (Bollinger Band). In daily chart support levels are 67.68 (7 day moving average) and 67.42 (14 day moving average)

Factors to watch

OIL :  up move in oil prices is likely to result in up-move and down move is likely to result in down move in the pair.

US 10 year Yield : a spike may trigger an outflow in emerging markets including India while a fall in US yield may result in appreciation.

Indian 10 year Yield : Last week the yield almost touched 8 % resulting in spike in pair on Friday.   An up-move in yields may result a further outflow in bond markets.

Dollar Index : An up move in Dollar index may result in pair moving up while dollar weakness may result in appreciation

FDI Flows : The Cabinet Committee on Economic Affairs  allowed an additional Rs 24,000 crore (USD 3.5 billion) foreign direct investment into private sector lender HDFC Bank. This inflow will result in a sharp down-move in USD/INR

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Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

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