Range: 75.80 – 76.15
Our Preference: Sell USDINR 75.90 add at 76 target 75.5 & 75.35 with SL 76.1+
Comments: RBI may continue to absorb inflows, accumulating reserves & strengthening its balance sheet.
Jio has got good investment from foreign investors, exporter selling and limited import would cap upside in USDINR by this week. Forex Reserves by wee12th June jump to $507.5 billion.
This will pressure USD INR this week down little more.