USD INR Movements

Eventual Depreciation.

63.00 has strong resistance levels, presently trend is biased towards range bound movement till 65.00. From July to Nov range can be 65-68 and pressure will always be on lower side in next 12 months.

March End can be 65-65.50 levels and June July can be 66-67 levels. The chances of 63-64 levels in March is just 20% that too with spikes and short lived momentum.

Reasons could be International Currency value, interest, portfolio rebalancing shift, Saudi, UAE , China , US economic Pressure, Crudonomics, elections approaching, Plan and Non Plan expenditures including subsidy enhancements. Major Recruitment drive is expected in next 1 year. Current and Capital Account imbalances , Reduced Capital Formation with sluggish core, Infra, real estate and job scenario is not pushing the demand supply with incomplete cash to bank cycle!

Happy Investing!