Rupee to open round 81.50 after making a excessive of 81.23 yesterday night and stay in a spread of 81.20 to 81.80 for the day. Equity markets have been barely  down with sgx nifty indicating  a 60 factors decrease open, Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP mentioned. 

The US greenback index rose to 110.36 ranges as election outcomes  from US poured in and there was no pink wave a aid for the present president, he mentioned. The US 10-year fell to 4.51% whereas brent oil fell to USD 92.50 per barrel as demand from China because of covid was a,matter of concern. There was s US stock  construct up additionally.

Asian currencies  have been weaker as Chinese Yuan fell to 7.27 ranges and KRW to 1370 ranges, Bhansali mentioned. 

“Exporters to continue waiting for 82.20 levels to sell USD while importers to continue buying dips. A break of 81.20 levels could however take it down to 80.50 levels and therefore a close watch is necessary on the market. RBI seems to be absent from the market in the last few days as oil companies take advantage of lower levels and buy dollars,” he additional mentioned.

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