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Rupee Strongest Since Early May


Broader USD trends are dominating in early dealing which has seen the Rupee print its strongest level since early May.

  • USD/INR has fallen ~0.4% this week breaking out of its recent range, last printing at 81.70/75.
  • Bears now target the 200-Day EMA (81.61), bulls first look to recover the 82 handle.
  • Corporate inflows, which may be connected to a deal by Bain Capital to buy Adani Capital, may also be boosting the rupee at the margins. More on the deal here.
  • A reminder that the domestic data calendar is empty this week.

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