USD/INR weakens as likely inflows boost Indian Rupee

The Indian Rupee (INR) extends its upside on the weaker US Dollar (USD) on Friday.

India n Rupee gains traction in Friday’s Asian session. Softer USD and portfolio inflows support the INR, while higher crude oil prices might cap its upside. Investors await the Fed’s Harker speech on Friday. The India n Rupee extends its upside on the weaker US Dollar on Friday.

Sustained bearish momentum could pave the way to 83.31, the low of June 18. The next cushion level is seen at the 83.00 psychological mark. On the bright side, the 100-day EMA at 83.64 will be the immediate resistance level for USD/INR, followed by 83.75, the lower limit of the rectangle. The key upside barrier to watch is the 83.90-84.00 zone. 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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