The Rupee opened 10 paise up at 64.45 against dollar on Thursday on account of selling of American currency by bank and exporters.
The dollar wallowed close to one-year lows against the euro and slipped against sterling in Asian trading on Thursday, as investors priced in tighter monetary policy in Europe.
Emerging Asian currencies edged up on Thursday, while China’s yuan hit its highest in more than seven months as the dollar eroded after investors priced in tighter monetary policy in Europe.
• South Africa Producer Price Index (MoM) above forecasts (0.4%) in May: Actual (0.5%).
• European Monetary Union Consumer Confidence in line with expectations (-1.3) in June.
• United Kingdom M4 Money Supply (YoY) fell from previous 8.2% to 6.7% in May.
USDINR after a gap down opening strongly rallied and closed on a flat to positive note.
The currency pair had been inching towards the important resistance mark of 65.0000 whereas 64.6000 may continue to act as strong support.
EURINR continued the rally for the third straight session and closed again on a strong note.
Closing near the mark of 74.0000 indicates strength may continue in the pair whereas on lower side, 73.8000-73.5000 is seen as support range.
GBPINR continued the rally of last few sessions and closed on a strong note.
The counter closed above the mark of 84.0000 which can continue to act as positive trigger for it to move towards the next resistance of 84.4000.
JPYINR had been dragging since last five successive sessions and closed on a weak note.
If the currency pair breaches the immediate support then it may slip towards deeper support of 57.4000 whereas 57.8000-58.0000 is seen as resistance range.
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