PBOC official commented that Yuan might appreciate to 6.5 by the end of the year which led to USDCNY moving lower below 6.66 levels. Not much to comment upon globally apart from the fact that Korea concerns are not dominating sentiments for now.
USDINR 1m NDF is trading 5.5p left while markets await 2 FDI inflows this week. KRW has appreciated 0.4% since yesterday along with Yuan appreciation. FPIs continue to take money out of equities while debt market inflows clock around Rs. 1000 crs every day. Asian equities are in the green today as no news on India-China standoff is taken as good news. CMP 64.08, Range 64.15-63.95.
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