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Rupee Firms In Recent Dealing, RBI's Das On Tap

INR

The Rupee has firmed off multi-low lows in recent dealing, USD/INR had printed its highest level since mid-October before marginally paring gains.

  • USD/INR is dealing in a narrow range below the 83 handle, yesterday the pair printed its lowest level since 14 August after falling ~0.2%, the largest daily fall since mid-July.
  • The pair remains in a firm uptrend, bulls now target the high from 20 October 2022 (83.2975). Bears first target the 20-Day EMA (82.7281).
  • RBI Governor Das is slated to give a speech in Mumbai on Wednesday.
  • Looking ahead the data calendar is empty until 31 Aug when Q2 GDP crosses.

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