The rupee removed all the morning gains and weakened against US dollar today after local equity markets fell for the sixth session amid a widening probe into the Punjab National Bank’s $2 billion fraud. The rupee opened at 64.88 and touched a high and a low of 64.87 and 65.01 a dollar respectively. Dollar index, which measures the US currency’s strength against all major currencies, was trading at 89.509, down by 0.12% from its previous close of 89.618.
- European Monetary Union Gross Domestic Product s.a. (YoY) meets expectations (2.7%) in 4Q.
- South Africa Business Confidence Index dipped from previous 99.7 to 98.9 in March.
- Singapore Foreign Reserves (MoM) increased to 282.8B in February from previous 282.4B.
USDINR pair unable to hold its higher level and came down, closed near to its day low. For upcoming session if it sustain below its crucial support level of 65.0000 then down side correction can be expected, on higher side 65.4000 is resistance level.
EURINR pair has continued its upward journey and closed with good gain. It has psychological resistance level of 81.0000 above this mark it can move towards next resistance level of 81.2000, whereas 80.5000 is support level.
GBPINR pair drags down from its upper level and settled the day with negative note. Now, it has crucial support level of 89.9000 below this mark down side movement can be seen. On higher side it has major resistance of 90.6000.
JPYINR pair opened with gap up, holds its higher level and closed the session with gain. This pair has major resistance level of 61.9000 above this it can move towards next resistance level of 62.0000, on downward side 61.2000 is support level.
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