The Indian Rupee (INR) extends the decline to near an all-time low on Friday.
The India n Rupee tumbles in Friday’s Asian session. A firm USD and importers’ month-end USD demand weigh on the INR. The RBI is likely to intervene in the FX market to prevent the local currency from depreciating further. The India n Rupee extends the decline to near an all-time low on Friday. The local currency remains under selling pressure due to sustained strong US Dollar demand from importers, foreign investors, and oil-related companies.
On the flip side, the potential support level for USD/INR emerges at the 85.05-85.00 region, representing the lower boundary of the trend channel and the round mark. A decisive break below the mentioned level may trigger momentum sellers to step in and take the price towards 84.27, the 100-day EMA. Indian Rupee FAQs What are the key factors driving the Indian Rupee? The Indian Rupee is one of the most sensitive currencies to external factors.
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