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.
Currencies
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EUR/USD Price Analysis: Another drop to the February low is not ruled out
EUR/USD keeps the weekly range bound theme unchanged and now breaks below the key 1.0700 support on Friday.
Rupee Largely Flat Against The U.S. Dollar
Rupee: The local currency opened at 82.72 against the greenback on Wednesday. It closed 82.70 on Tuesday.
USD/INR has come out of the woods ahead of the Indian Union Budget announcement
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.
USD/INR Jumps Closer to 82.70 [14-Dec-2022]
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.
Rupee Appreciates Against U.S Dollar
Indian currency appreciated 20 paise to 82.60 at the open against the greenback on Wednesday. It closed at 82.80 on Tuesday.
Rupee likely to Appreciate on Weak Dollar
“Rupee extended its gains in yesterday’s session after Fed Chairman signaled a likely slowdown in the pace of tightening in December, while indicating that more hikes will be necessary to curb inflation.