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USD/INR Highest Since Early April, Equity Inflows Remain Strong

INR

USD/INR is a touch firmer in early dealing, the pair prints at 82.39/41 as the rupee follows broader USD/Asia trends on Thursday.

  • Yesterday the pair printed its highest level since early April, strong US data boosted the greenback and rising oil prices weighed on the rupee.
  • Equity inflows from Foreign Investors remain strong, there have been ~$2.66bn in flows in May thus far.
  • We now deal above the 20- and 200-Day EMAs, bulls target the high from Apr 3 at 82.46. Bears look to break the low from April 27 at 81.61.
  • The data calendar is empty for the remainder of the week.

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