Rupee - Sep 6, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

The Indian Rupee depreciated against the U.S. dollar on Monday on importer covering and a rebound in the dollar index.

The Rupee ended at 73.11 to a dollar compared with 73.02 in the previous session.

Meanwhile, most Asian and EM currencies were weak against the U.S. dollar and weighed on the local unit.

Technically, the USDINR Spot pair resistances are 73.25 and 73.30, while supports are at 73.00 and 72.90. The pair could remain with the support and resistance over the next few sessions.

The U.S. Dollar Index recovered on Monday helped by firmer U.S. Treasury yields.

However, U.S. markets are shut for a holiday, contributing to lower volumes.

Technically, the Dollar Index holds a support at $92.05-$91.88 levels. Resistance is at $92.30-$92.43 levels.

Source : Equity Bulls

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