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Rupee Holding Below 83, Wholesale Prices On Tap

INR

USD/INR has opened dealing little changed from yesterday's closing levels, the pair has held below the 83 handle in recent dealing however the 20-Day EMA (82.8760) has supported the pair as narrow ranges are observed.

  • The pair last prints at 82.96/97 in early trade on Thursday.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is on a break of the 20-Day EMA.
  • The RBI is said to have asked some foreign banks about operational aspects of handling increased custodian flows into the country ahead of JPMorgan’s bond index review, The Economic Times reported. More here.
  • On tap today we have August Wholesale Prices, a fall of 0.60% Y/Y is expected.

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