Rupee resilient on back of FII flows into Indian equity: Shenoi

0

Mohan Shenoi, Kotak Mahindra Bank said, “A US Fed rate hike in March looks almost certain and currency markets seem to have fully priced it in. The rupee however is resilient on the back of FII flows into Indian equity markets. We expect the USD-INR pair to trade in a range of 66.70-67/USD for the day.”

He further said, “After a brief rally due to a short squeeze, Indian G-Secs have again slipped into negative territory. Higher US 10-year yield is adding to the pressure. We expect the 10-year benchmark bond yield to trade in a range of 6.85-6.90 percent for the day.”