Rupee Strengthens To 82.51 Against Dollar
Rupee appreciated 16 paise to close at 82.51 against the U.S. dollar on Wednesday.
The Indian rupee appreciated against the U.S. dollar on Wednesday, tracking the Chinese yuan-led advance in Asian currencies.
The local currency strengthened 20 paise to open at 82.47 against the greenback, according to Bloomberg data. It appreciated 16 paise to close at 82.51 on Wednesday.
It had closed at 82.67 on Tuesday.
"Supports for the dollar-rupee spot pair are at 82.47 and 82.41, resistances are at 82.75 and 82.90," Reliance Securities Ltd. said. The brokerage flagged that beyond the yuan, other cues for the rupee were negative, due to which further gains could be met with buying in the dollar-rupee spot pair.
"We suggest closely watching the level of 82.55-82.85 for taking fresh positions in the pair; either side breakout of the range could give further directions," said Rahul Kalantri, vice president of commodities at Mehta Equities Ltd.
