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Reliance Securities Report
From an intraday perspective, the Indian rupee could open flat against the dollar this Thursday morning as traders await data for cues on the monetary policy.
The non-deliverable forward market is indicating that the rupee could open around 82.8400 to 82.8500 against the dollar compared with 82.8625 in the previous session and the range for the session remains between 82.7000 to 82.9000.
Most Asian peers have started weaker this early Thursday morning, while dollar outflows and a small recovery of the U.S. Treasury Yields could weaken risk appetite and keep gains in check for the domestic currency.
Amongst other domestic pairs, the euro-Indian rupee, the British pound-Indian rupee and the Japanese yen-Indian rupee could start in the red this Thursday’s morning session.
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