Spiga

USD/INR Likely Flat; 43.18-43.38 Band For Day

Forex News: USD/INR likely open flat to marginally lower around 43.28-43.30 vs 43.30 last close; "Asian currencies are a mixed bag today. There should be good two-way interest. However, with local stocks likely to open in negative territory, the pair may see upward pressure" later in session, says British bank dealer. Adds, "the RBI was there in the market yesterday (capping upside for the pair) around 43.28-43.30 levels. So, it can be expected to be present today also." Notes, possible withdrawal of support by communists to federal government on the Indo-US nuclear deal issue unlikely to hurt sentiment. "This has been discounted. Also, the government isn't likely to fall due to the withdrawal." Tips 43.18-43.38 band for session.


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