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USD/INR Consolidating Gains Above 83

INR

USD/INR has opened dealing little changed from Wednesday's closing levels, the pair last prints at 83.23/24.

  • Yesterday the pair consolidated recent gains above the 83 handle. Rising US Tsy Yields and Oil prices continue to weigh on the Rupee.
  • FTSE Russell is to review India’s potential inclusion in its emerging market debt index on Sept 28; India is currently on watchlist for potential inclusion with the decision due late US hours today.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 83 handle which intersects with the 20-Day EMA (83.04).
  • Data wise the docket is empty until tomorrow when the August Fiscal Deficit and Eight Infrastructure Industries survey crosses.
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