BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Reliance Securities Report
From an intraday perspective, the Indian rupee could open start weaker against the dollar as the greenback gained supported by safe haven appeal on the back of a downgrade of U.S. sovereign debt credit rating.
The rupee could open around in the range of 82.2900 to 82.3000 against the U.S. dollar compared with 82.2550 in the previous session and the range for the session is between 82.1500 to 82.4500.
The rupee could also be pressured by broad foreign outflows in the Indian economy.
Meanwhile, recent data from the U.S. strengthened the case for the Federal Reserve to remain hawkish in September and could push the dollar higher and keep the rupee under pressure.
Most Asian and emerging market peers have started this early Wednesday morning on a weaker note and will keep gains capped for the rupee.
We expect British pound sterling-INR, the euro-INR and the Japanese yen-INR spot pairs to move lower this early Wednesday morning trade.
The range for British pound sterling-INR is between 104.55 to 106.00, while that for euro-INR is between 89.95 to 91.00 and for Japanese yen-INR is between 57.15 to 58.05 this Wednesday.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.