- Wealth PMS
It sliced through 65 like a hot knife through butter. The last data point is intraday, the earlier are RBI reference rates.
While this looks like an extreme (distance from 200DMA as a %) it is still too early to call a top for the dollar. You call tops when stuff stops rising. Right now we’re going up a rupee a day.
Will the dollar touch 100? I’m not predicting. I’m reacting. I am slowly starting to pick up textile and IT exporters, but even there, the exit of investors might cause a sudden down move.