Rupee - June 15, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

The Indian Rupee ended marginally weaker against the U.S. Dollar on Tuesday on importers demand for dollars and weak regional currencies.

The Rupee ended at 73.31 compared with 73.27 in the previous session.

Meanwhile, strong crude prices also weighed on the unit.

Most other Asian currencies were weaker, while the dollar index was little changed ahead of the release of U.S. retail sales data later today and Fed meeting tomorrow.

India's benchmark BSE Sensex closed at a record high supported by foreign inflows this month.

Meanwhile, the one-year forward premium was at 3.44 rupees, against 3.39 rupees in the previous session.

Technically, the USDINR spot pair supports are at 73.14 and 73.00. Resistances are at 73.38 and 73.54.

Technically, the dollar index resistances are at 90.55 and 90.75. Supports are at 90.38 and 90.22.

The Euro, the Sterling and the safe haven Japanese Yen are flat on Tuesday afternoon trade in Asia.

Source : Equity Bulls

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