Expect USD-INR to trade in 64.75-65.05 range: Mohan Shenoi


Oct 26, 2017 08:19 AM IST | Source: CNBC-TV18

We expect the 10-year benchmark bond yield to trade in a range of 6.80-6.83 percent for the day, says Mohan Shenoi of Kotak Mahindra Bank.

Mohan Shenoi of Kotak Mahindra Bank said, “Taper announcement is expected from ECB in their rate setting meeting today leading to euro strength. Choice of the next Fed Governor – ‘continuity versus hawkishness’ is driving US yields higher and keeping dollar supported.”

“Buoyant equity market is helping the rupee strength. We expect the USD-INR to trade in a range of 64.75-65.05 for the day.”

“Bank recap plan has had some negative impact on bond yields. Appetite for G-Sec will be limited until the details of bond issuance under the recap plan is announced. We expect the 10-year benchmark bond yield to trade in a range of 6.80-6.83 percent for the day,” he added.