In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.39. The USD/INR November open interest was up by 4.6%. The December contract witnessed an increase in open interest by 2.9%.
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 49.53 with target 49.35/49.27 and strict stop loss of 49.62.
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 49.53 with target 49.35/49.27 and strict stop loss of 49.62.
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