Rupee surges 18 paise to 72.42 against USD in early trade
PTI
Mumbai |
Updated on
RBI to release reserves data after market hours The Indian rupee strengthened by 18 paise to 72.42 against the US dollar in early trade on Friday tracking positive domestic equities. At the interbank foreign exchange, the domestic unit opened at 72.46 against the dollar, then inched higher to 72.42, registering a gain of 18 paise over its previous close. On Thursday, the rupee had settled at 72.60 against the US dollar. Most Asian currencies have started flat to marginally stronger against the US dollar this Friday, Reliance Securities said in a research note.
Akhil Nallamuthu
BL Research Bureau |
Updated on
March 03, 2021
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Although the rupee (INR) opened with a gap-up last session, it was unable to rally much and closed the day near the day s open at 73.36 against the dollar (USD). Nevertheless, on daily close to close basis, it ended 19 paise higher.
Today, the domestic unit opened with a gap-up at 73.26, post which it rallied and is currently trading near 73.10. Thus, INR is now above the resistance at 73.15 and its immediate resistance is at 73.00. A breakout of this level can intensify the rally. But if the local currency weakens from here, 73.15 can offer a support. Below this level, the support is at 73.30. Subsequent support is at 73.50.
Daily Rupee call: INR can be volatile today
Akhil Nallamuthu
BL Research Bureau |
Updated on
February 05, 2021
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It was a flat day for the rupee (INR) as it closed last session almost at the same level of Wednesday i.e. 72.96 against the dollar (USD). Thus, it continues to trade around the 73.00 mark and is struggling to take a direction.
The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has left the repo rate unchanged today along with the expected lines. So, this might not have a significant impact on the exchange rate of USDINR.
Today, INR has opened at 72.98, without much deviation from Thursday’s closing level. If it appreciates from here, it can find hurdles at 72.80, above which 72.70 can be a hindrance. But if the domestic currency weakens and slips below 73.00, it can find support at 73.15. Subsequent support is at 73.25.