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USD/INR Firms In Early Dealing, Domestic Markets Closed On Thursday

INR

USD/INR prints at 82.25/28, ~0.1% firmer in early trade.

  • The Rupee is paring gains seen in the early part of the week, a low of 82.16 was seen yesterday.
  • Bulls first look to break 20-Day EMA (82.40) from here they target 83 handle. Bears target 200-Day EMA (80.93)
  • India's Government has asked state-owned banks to focus on their stress testing methods, link here, after they were found to not have comprehensive stress testing models in line with recommendations.
  • Data wise the BoP current account balance for Q4 2022 is due some time below now and Friday. The Bloomberg Survey Median Estimate sits at -$23bn, the prior read was -$36.40bn.
  • A reminder that Indian markets are closed on Thursday for the observance of a national holiday.
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