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Indian Rupee Appreciates Against The U.S. Dollar

Indian rupee strengthened 18 paise to close at 82.67 against the U.S. dollar on Tuesday.

Swastika Mukhopadhyay

Indian 500 rupee banknote and five rupee coins. (Photo: rupixen.com/Unsplash)

The Indian rupee strengthened against the U.S. dollar on Tuesday, on the back of a possible RBI intervention in the foreign exchange market and a pause in the greenback's rally.

The local currency appreciated 17 paise to open at 82.68 against the greenback, according to Bloomberg data. It strengthened 18 paise to close at 82.67 against the U.S. dollar.

The rupee closed at 82.85 on Monday.

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"The currency could also take cues from a positive lead on global equity markets as investors continue to assess the outlook for growth, inflation, and monetary policy," Reliance Securities said.

The brokerage said supports for the dollar-rupee spot pair are at 82.48 and 82.33; resistances are at 82.90 and 83.00, it said.

Also Read: India's e-Rupee: New Money With Wrinkles Of The Old

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WRITTEN BY
Swastika Mukhopadhyay
Swastika Mukhopadhyay is a desk writer at BQ Prime, who covers markets and ... more
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