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Rupee Marginally Weaker To Start

INR

The Rupee is a touch weaker in early trading on Friday, USD/INR sits at 82.02/05 ~0.1% firmer from yesterdays closing levels.

  • USD/INR continues to see-saw in a narrow range around the 82 handle. Bulls look to break the 20-Day EMA (82.16), on the downside bears look to break the 200-Day EMA (81.6140).
  • Strong inflows by foreign investors into Indian equities have continued with $636mn net inflow through the week to Wednesday.
  • India, the worlds biggest rice exporter, has banned shipments of non-basmati white rice to maintain domestic prices at comfortable levels. More here.
  • A reminder that the data calendar is empty until 31 July when June Fiscal Deficit INR and Eight Infrastructures Industries Index cross.

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