The rupee is strong on the back of custodial flows. We expect the USD-INR to trade in a range of 64.25-64.55 for the day, says Mohan Shenoi of Kotak Mahindra Bank.
Mohan Shenoi of Kotak Mahindra Bank said, "Strong US data, progress in US tax reform bill and Powell's statements indicate December US Fed rate hike is on track. US Dollar has rallied and stabilised against most majors except pound which rallied on progress of Brexit talks."
"The rupee is strong on the back of custodial flows. We expect the USD-INR to trade in a range of 64.25-64.55 for the day."
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