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USDINR - 100+ ???One side $ is rising despite of de dollarization efforts. India and RBI has been supporting and buying $ every month as per RBI data when chit chatting with russia for new currency one side and INR trades on another side. Its like put right indicator and show left hand and go straight without turning right or left !!! RBI who refused to reduce interest rate for the sake of Inflation do not talk about USDINR increase.... its commonsense if usdinr fall crude imports becomes costlier and resulting in price rise. while speaking harsh on one side RBI do not have any other option other than this to attract FIIs back to markets. Right now RBI is trying to support the N & BN Bulls.
Long
by venkatfx
USDINR - 100+ ???One side $ is rising despite of de dollarization efforts. India and RBI has been supporting and buying $ every month as per RBI data when chit chatting with russia for new currency one side and INR trades on another side. Its like put right indicator and show left hand and go straight without turning right or left !!! RBI who refused to reduce interest rate for the sake of Inflation do not talk about USDINR increase.... its commonsense if usdinr fall crude imports becomes costlier and resulting in price rise. while speaking harsh on one side RBI do not have any other option other than this to attract FIIs back to markets. Right now RBI is trying to support the N & BN Bulls.
Long
by venkatfx