Indian Rupee Weakens Against The U.S. Dollar
Indian rupee depreciated 8 paise to close at 82.59 against the U.S. dollar on Thursday.
The Indian rupee depreciated against the U.S. dollar on Thursday as U.S. yields rose amid fears of further tightening of interest rates by the Federal Reserve.
The local currency weakened 6 paise to open at 82.57 against the greenback, according to Bloomberg data. It depreciated 8 paise to 82.59 at close.
It closed at 82.51 on Wednesday.
"Supports for the dollar-rupee spot pair are at 82.35 and 82.25, resistances are at 82.65 and 82.75," Reliance Securities said.
However, the non-deliverable forward, which was last trading at 82.51 against the dollar after testing 82.29 levels in the previous session, could weigh on sentiments, the brokerage said.
Additionally, most Asian and emerging market peers started weaker early Thursday morning, and a recent rise in oil prices could weigh on the domestic unit, said the brokerage.
