Currency: Indian rupee expected to strengthen after falling below key level in the short term : Orishas-finance

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Currency: Indian rupee expected to strengthen after falling below key level in the short term

20/04/2023

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Currency: Indian rupee expected to strengthen after falling below key level in the short term

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After falling below the significant short-term support level of 82.20 in the previous session, the Indian rupee is expected to strengthen at the opening against the US dollar on Thursday.

Undeliverable futures show that the rupee will open around 82.20-82.25 for the US dollar compared to 82.2250 on Wednesday. According to traders, the rupee fell for the third session in a row on Wednesday, mired by demand for liquidity and dollar hedging and by rising US yields. Other Asian currencies, including the Chinese yuan and the Korean won, weakened on Thursday, impacted by a further rise in US yields

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