In the currency futures market, most traded near-month dollar-rupee contract on the NSE closed at 49.62. The USD/INR November open interest was up by 6.6%. The December contract witnessed an increase in open interest by 3.9%
The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR November contract to buy above above 49.40 for target of 49.57/49.65 and stop loss placed at 49.32.
The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR November contract to buy above above 49.40 for target of 49.57/49.65 and stop loss placed at 49.32.
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