INR forecast: Opens weaker at 74.42 and range for the day is 74.30 to 74.60
Overnight slump of 800 points in DOW is resulting in weaker Asian equities and currencies.
According to us the mother of all problems is rising interest rate in US and Fed tightening its balance sheet. We had also shared a research on the same few days back.
The other probability for DOW slump could be investors reducing their exposure before mid term elections.
Oil prices fell around 81 after reports suggested that U.S inventories rose more then expected.