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USD/INR Re-opens Above 83 Handle

INR

USD/INR has re-opened, after being closed for 2 days due to the observance of national holidays, sitting a touch above the 83 handle as broader USD trends dominate flows.

  • The pair sits a touch off its highest level since October 2022 and has firmed ~1% in August.
  • Bulls now target the high from 20 October 2022 (83.0375). Bears first target the 20-Day EMA (82.5738).
  • The latest CDS data shows that a total net of $182mn in Indian equities have been bought by foreign investors in August.
  • A reminder that the domestic data calendar is empty until 31 August when Q2 GDP crosses.

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