Indian Rupee Weakens Against The U.S. Dollar
Rupee weakened 7 paise to close at 82.80 against the greenback on Tuesday.
The Indian rupee depreciated against the U.S. dollar on Tuesday.
The local currency weakened 7 paise to close at 82.80 against the greenback on Tuesday. Rupee had depreciated by 4 paise to 82.77 at the open before weakening to 82.83, marking the day's weakest against the U.S. Dollar.
It closed at 82.73 on Monday.
"Supports for the dollar-rupee spot pair are at 82.55, 82.45, and 82.30, resistances are at 82.80, 82.95, and 83.05," Reliance Securities said.
The Asian peers have started mixed as most markets seek fresh direction, the brokerage said. Hence, domestically, the rupee could remain extremely range-bound over the next two to three sessions, it said.
Rahul Kalantri, vice president of commodities at Mehta Equities Ltd. suggested to "closely watching the range of 82.55-83.10 in today’s session for taking fresh positions in the pair." Either side breakout of the range could give further directions, he said.
