Forex - India Flows: USD/INR lower on new bank recap rules


 05:28 (GMT) 14 Feb

  [Forex Flows]

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India Flows: USD/INR lower on new bank recap rules (0100-XJXG-C01)

USD/INR onshore spot gapped lower to open at 64.1500 after the holiday vs. last close of 64.3050 and slid to a low of 64.0925 in early trading as lower CPI and new RBI bank recap rules boosted domestic sentiment. Pair however returned to trade above 64.1000 soon after, although gains were restrained. Only gains above 64.4400 resistance will put the focus firmly on the upside. 1M NDFs meanwhile slipped to a low of 64.3300 after trading in consolidation around 64.5000 overnight. SENSEX fluctuating on the bank recap rules news, but last seen in mild black.


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