The Indian rupee strengthened against the U.S. dollar amid improved risk sentiments in the global market.
The Indian rupee strengthened against the greenback on Monday, aided by the pullback in the dollar index and U.S. yields amid an improved risk sentiment.
Indian rupee strengthened 17 paise to open at 82.68 against the U.S. dollar on Tuesday. The Indian rupee strengthened against the U.S. dollar on Tuesday on the back of a possible RBI intervention in the foreign exchange market and a pause in the greenback’s rally.
EUR/USD keeps the weekly range bound theme unchanged and now breaks below the key 1.0700 support on Friday.
Rupee: The local currency opened at 82.72 against the greenback on Wednesday. It closed 82.70 on Tuesday.
The USD/INR pair has delivered an upside break of the consolidation formed in a narrow range of 81.66-81.77 in the Asian session. The asset is demonstrating optimism amid a recovery move shown by the US Dollar Index (DXY) after dropping to near 101.70.
The USD/INR pair has witnessed a decent buying interest in the opening trade, which has driven the asset towards 82.70 despite a quiet market mood. The asset has displayed a sheer rebound as oil prices have registered significant gains on expectations of a recovery in global economic prospects after a soft landing of the United States inflation in November consecutively for the second month.