The Indian Rupee appreciated by 18 paise to open at 72.7175 and hovered in the range of 73.0450 and 72.6700 against the US dollar as the government has raised the import duties on select items to check the rupee fall. Moreover, Dollar selling by exporters and banks and the greenback’s weakness against some currencies overseas also aided the uptrend. On the flip side, dollar gained against major Asian peers as markets digested the Federal Reserve’s widely expected rate hike while Sterling Pound remained weak as market participant worried about prospects for Brexit negotiations between the EU and UK.
- South Africa Producer Price Index (MoM) came in at 0.6%, above forecasts (0.45%) in August.
- European Monetary Union M3 Money Supply (3m) down to 4% in August from previous 4.1%.
- New Zealand RBNZ Interest Rate Decision in line with forecasts 1.75%.
USDINR after negative opening showed correction and closed with flat note.
Currency pair found resistance above 73.0000 level if unable to sustain above it then some correction can be seen towards 72.5000 mark.
EURINR opened with negative bias and found resistance on higher levels closed with loss.
85.3000 is act as support zone for particular currency if able sustain above it then shows positive movements and may find resistance around 86.0000.
GBPINR showed sideways movements throughout the session closed around its resistance.
After false breakout on lower levels currency showed positive movements and may continue bullish rally if sustain above 96.0000 level.
JPYINR after positive movements found resistance and closed with flat note.
If continue to trades below psychological level of 65.0000 then correction can be seen in it towards next support level of 64.2000.
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