Rupee - Dec 14, 2021 - Reliance Securities

Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

The Indian Rupee depreciated against the dollar this Tuesday, tracking broad losses in regional currencies on growing probability of an early scale-back of the U.S. Federal Reserve's pandemic-induced stimulus.

The Rupee ended at 75.87 compared with 75.77 close in the previous session.

The Rupee briefly fell to an intraday low of 75.95 earlier in the session.

Indian government bond yields settled flat this Tuesday. The benchmark 6.10% bond at yielding 6.36%, compared with 6.37% close in the previous session.

India's benchmark BSE Sensex, tracking regional cues, dropped 0.3% also weighed on the local unit.

Technically, the USDINR Spot pair immediate resistances are at 75.96, 76.17 and 76.33. Supports are at 75.60 and 75.39.

The U.S. dollar was trading marginally in the red on Tuesday early morning trade in the European session versus a basket of major currencies, ahead of Federal Reserve meeting, however continued uncertainty about the Omicron coronavirus variant kept downside capped.

Technically, the U.S. Dollar Index resistances are at $96.22 and $96.37. Supports are at $96.05 and $95.87.

Th Euro, the Sterling and the Yen is trading marginally in the green against the U.S. Dollar this Tuesday early morning trade in the European session.

Source : Equity Bulls

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INR Rupee RelianceSecurities Currency