Indian Rupee Appreciates Against The U.S. Dollar

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.

The local currency appreciated 17 paise to open at 82.68 against the greenback, It closed at 82.85 on Monday.

At 10:14 a.m., the rupee appreciated 16 paise to 82.69 against the U.S. dollar.

“The currency could also take cues from a positive lead on global equity markets as investors continue to assess the outlook for growth, inflation, and monetary policy,” Reliance Securities said.

The brokerage said supports for the dollar-rupee spot pair are at 82.48 and 82.33, resistances are at 82.90 and 83.00, it said.

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600