Since then, it has fallen by another 5.25% and threatening to break below 90 for the first time in three years. The causes for this decline have been different everytime and the the US Budget deadlock was the proverbial last straw this month. GDP growth in fiscal 2018 moderated to 6.5% from 7.15% in fiscal 2017. We also need to keep a watch on the coming Union Budget proposals to be presented on February 1. I don’t expect too much action in the USD-INR market, given the current situation as I expect range play within 63.5000-64.2500 range.

Source: dna January 29, 2018 00:00 UTC