Indian Rupee (INR) edges lower on Friday due to the modest recovery of the US Dollar (USD).
India n Rupee loses momentum in Friday’s early Asian session. The elevated geopolitical risks and weak India n domestic markets undermine the INR. The preliminary US August Michigan Consumer Sentiment Index will be the highlight on Friday. India n Rupee edges lower on Friday due to the modest recovery of the US Dollar . Risk aversion in the global markets amid escalating geopolitical tension in the Middle East dampens the sentiment and undermines the INR.
Further north, the next upside barrier is seen at 84.50. On the other hand, a breach of the uptrend line at 83.85 could undergo some downside, possibly dragging USD/INR lower to the 100-day EMA at 83.54. The next contention level to watch is 83.36, the low of June 28. 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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