“As an Indian investor, we are always worried that even though the Nifty might do 15%, if my currency depreciates by 5-10%, my net returns in dollars are low. That is the point I have argued many times. Maybe after the US recession, we will enter a setup where INR assets, both bonds, credit as well as equities would actually look better than dollar assets. ”
The dollar index (DXY) is hovering around 105.60 while the US 10-year bond yield is at a 15-year-high of 4.50% with Asian currencies remaining weak. He is expecting the rupee to be in a range of 82.70-83.30 against the USD over the next few days
Rupee Gains 13 Paise To 73.15 Against US Dollar In Early Trade
On Monday, the rupee had settled at 73.28 against the American currency.
PTI 19 January 2021 outlookindia.com 2021-01-19T13:41:34+05:30
The rupee appreciated 13 paise to 73.15 against the US dollar in opening trade on Tuesday as positive domestic equities and weakness in the American currency boosted investor sentiment.
At the interbank forex market, the domestic unit opened at 73.16 against the US dollar and inched higher to 73.15 against the greenback, registering a rise of 13 paise over its previous close.
On Monday, the rupee had settled at 73.28 against the American currency. The US dollar has weakened across the board overnight with the euro back up to 1.21 levels, Abhishek Goenka, Founder and CEO, IFA Global said adding that rupee is likely to trade in 73.05-73.30 range with sideways price action.