Rupee - Sep 3, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

The Indian Rupee ended marginally higher on Friday tracking the weakness of the dollar and strong flows into the domestic equity markets.

The Rupee ended at 73.02 compared with 73.06 in the previous session.

For the week the rupee remained strong tracking a decline in the dollar index following relatively dovish comments from Federal Reserve Chairman Jerome Powell late last week.

For the week, the unit rose 0.9%, adding to last week's 1% climb.

However, investors remained cautious ahead of the nonfarm payroll data due today evening.

Technically, the USDINR Spot pair resistances are at 73.08 and 73.20. Supports are at 72.77 and 72.60.

The U.S. Dollar Index was flat on Friday afternoon trade in Asia ahead of the important nonfarm payroll number on Friday.

Technically, the Dollar Index below $92.35 could see some downside correction up to $92.05-$91.88 levels. Resistance at $92.52-$92.78 levels.

Source : Equity Bulls

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