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Bhavik Patel Mumbai
Rupee: Sustained inflow of foreign funds and easing US-China trade tension led the Sensex to close at a record high level on Friday. The Indian rupee managed to trade strong inspite of strong US Dollar and weakening other emerging market currencies. Rupee, which had support around 71.50-71.40, has been tested and now we are seeing reversal. We don’t expect rupee to trade below 71 as weak emerging market currencies will drag rupee lower. Expect rupee to test levels of 72.20-72.40 in next month. RBI has boosted dollar purchases to increase rupee liquidity in the financial system, as shown by foreign-exchange

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First Published: Nov 29 2019 | 8:44 AM IST

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