New Delhi, Aug. 3 -- The 94 mark stands as a critical level for the USD/INR exchange rate, with FCNR(B) inflows and Foreign Portfolio Investment (FPI) flows set to dictate the real impact on the Indian currency, according to Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, speaking to ANI.

"I think we can see the rupee appreciate towards the levels of 94. Technically also 94 is a very important level. If it appreciates beyond 94, we could see a lot of exporter hedging in the market which could drive it down towards even the 92 levels. So I think for now I'll be watching for 94 as a very important level for USD/INR," he stated.

With the rupee trading close to the 95 level against the US dollar, Banerjee said...