The Indian Rupee (INR) gains ground amid the weaker Greenback on Tuesday.
India n Rupee holds positive ground on the softer US Dollar on Tuesday. The upside of the INR might be limited amid the Fed’s hawkish tone and higher crude oil prices. Investors await the US Retail Sales data for fresh impetus, which is due on Tuesday. The India n Rupee gains ground amid the weaker Greenback on Tuesday. The upside of the local currency might be limited as the cautious stance from US Federal Reserve officials is likely to influence the US Dollar for the time being.
In the bullish case, the immediate resistance level for the pair will emerge at 83.60 . Any follow-through buying above this level will pave the way to 83.72 en route to the 84.00 psychological mark. On the flip side, the key support level for USD/INR is located at 83.35 . A breach of this level could expose 83.00 , followed by 82.78 . 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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