The Indian rupee strengthened against the U.S. dollar on Thursday, led by a decline in overnight oil prices and a recovery in its Asian peers.
The local currency strengthened by 12 paise to 82.74 at close on Thursday, according to Bloomberg data. Earlier, it had appreciated by 9 paise to open at 82.77 against the greenback.
It closed at 82.86 on Wednesday.
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"Supports for the USD-INR spot pair are at 82.70 and 82.60, resistances are at 82.90 and 83.00," Reliance Securities said in a pre-market note.
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However, the brokerage flagged concern about the U.S. Fed continuing with further rate hikes to cool inflation, which could cap gains.
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