USD/INR DAILY

Dollar Stayed in a sideways range on Friday as Indian equity markets rebounded from lows after the rise witnessed in dollar index. Dollar near month contract opened the day at 46.78 and closed at 46.67 witnessing a fall of 11 paisa. Dollar index rose on Friday as the benchmark touched 75.88 from opening of 75.20, leading to correction witnessed in asset classes across the globe. However Indian equity markets recovered from day’s low and closed 63 points up at 5052 points. In domestic news, bond yield’s continued to be under pressure after government sold bonds at yields lower than expected. The benchmark 10 year yield was quoted at 7.22% from 7.25% previously. In international news, the dollar fell against the Euro in early Monday morning trades for the first time in three days on speculation that Federal Reserve will keep its stimulus measures in place and ensure interest rate remains low. Speaking of today 46.95 will act as a key resistance for the pair while 46.45 will be a crucial support.