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Rupee Marginally Firmer, USD/INR Holding Above 82

INR

The rupee is marginally firmer in early dealing, the USD is broadly weaker however the Rupee is underperforming in the USD/Asia space.

  • USD/INR prints at 82.04/05, the pair found support ahead of 82 in early trade and continues to hold above the figure.
  • Bulls look to break the 20-Day EMA (82.18), on the downside bears look to break the 200-Day EMA (81.6102).
  • Strong inflows by foreign investors into Indian equities have continued with $369mn net inflow on Monday and Tuesday of this week.
  • A reminder that the data calendar is empty until 31 July when June Fiscal Deficit INR and Eight Infrastructures Industries.

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