Currency markets closed yesterday, the USDINR spot depreciated by 0.17 percent on Monday as investors remain cautious ahead of the RBI monetary policy meeting which is scheduled to be held tomorrow. Markets expect no change in the monetary stance. Recently, the RBI board cleared a proposal to introduce Rs200 notes.
On the international front, the upcoming meeting between China’s president Xi Jinping and US President Donald Trump is likely to keep the markets in jitters. Due to all the above factors, USDINR spot is likely to trade in arrange-bound manner as traders play safe prior to the RBI policy meet.
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