The Indian rupee ended weaker against the U.S. dollar a day ahead of RBI MPC meeting.
The local currency weakened two paise to close at Rs 83.26 against the U.S. dollar on Thursday, after opening at Rs 83.22. It closed at Rs 83.24 on Wednesday, according to Bloomberg data.
"DXY gives up some of its recent gains after weaker-than-expected U.S. private payrolls, based on the ADP National Employment Report. 10-year US Treasury yields and Brent crude prices cooled off," Kunal Sodhani, vice president, Shinhan Bank (Global Trading Centre), said.
"For the dollar/rupee, intervention has been seen around Rs 83.27 levels; as such, Rs 83.30 continues to act as a resistance while Rs 83.05 is a support," Sodhani said. "Only a break above Rs 83.30 may open doors for Rs 83.50 levels.".
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