INR forecast: INR opens weaker @ 6871 as against previous close of 68.62 and may trade the day between 68.52-68.84 under two way price action.
Yesterday CNY slipped to 6.7150 and currently below 6.730 nearing to a years low on back of the comments by Trumps top economic advisors blaming China’s president over stalemate to resolve trade war. All major Asian and emerging currencies including INR turned red following weakness of CNY.
With INR failing to break a love 68.30 levels, our sense is that new trading range for INR may be 68.30-69.00 for some time.