The Indian rupee dropped against the U.S. dollar on Monday following an output cut by OPEC+, while managing to remain above a near-term support level.
" nowadays, minor support and resistance levels are important, considering how range-bound it is," a trader at a private sector bank said.
Oil prices jumped with Brent crude futures at one point up more than 8%. A rise in oil prices impacts the rupee directly in form of a higher import bill and indirectly in terms of inflation. The Reserve Bank of India's policy decision due Thursday and the U.S. jobs report scheduled for the following day are seen key for the rupee.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/INR Price Analysis: Indian Rupee sellers need validation from 82.55USD/INR prints the biggest daily gains in more than two weeks as it rises to 82.45 during early Monday. In doing so, the Indian Rupee (INR) pair justi
Read more »
Loop 303 reopens at Indian School Rd after crashNorthbound lanes of Loop 303 have reopened at Indian School Road after a crash Friday afternoon. MORE ⬇️
Read more »
Impress Your Guests With This Simple And Delicious, No-Bake Indian Treat!Loaded with chunks of pistachios, cashews, and dates, this no-added-sugar, no-bake confection is sure to satisfy! California Live contributor Blanche Shaheen shares her recipe for Khajur Burfi.
Read more »
Fragile calm prevails in Indian states after days of religious clashesScores arrested as large-scale clashes between Hindus and Muslims in Bihar, West Bengal, Maharashtra, and Gujarat states, leave two people dead, many wounded and properties burned or looted.
Read more »
Exclusive: India regulator probing some Adani offshore deals for possible rule violationsIndia's market regulator is investigating possible violation of 'related party' transaction rules in the Adani Group's dealings with at least three offshore entities that have links to the brother of the conglomerate's founder, two people said.
Read more »
Zendaya Walks Red Carpet for India Gala Solo, Tom Holland Lingers BehindTom Holland and Zendaya seemed to go out of their way in avoiding PDA and/or touching during their public Mumbai event this weekend, but they're still very much together ... evidenced in what they're up to behind the scenes.
Read more »