In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.30. The USD/INR November open interest was up by 4.8%. The December contract witnessed an increase in open interest by 8.6%.
The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above 49.90 with targets of 50.09/50.17 and stop loss 49.81.
The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above 49.90 with targets of 50.09/50.17 and stop loss 49.81.
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