In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.62. The USD/INR November open interest was up by 6.3%. The December contract witnessed an increase in open interest by 1.6%.
The US dollar is expected to attract some selling on rallies against the INR. Utilise the highs in the USD/INR November contract, sell below 49.79 with target 49.64/49.56 and stop loss 49.87.
The US dollar is expected to attract some selling on rallies against the INR. Utilise the highs in the USD/INR November contract, sell below 49.79 with target 49.64/49.56 and stop loss 49.87.
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