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Reliance Securities Report
From an intraday perspective, the Indian rupee could open flat to weaker this Tuesday morning tracking a stronger dollar.
The rupee could open around in the range of 82.2500 to 82.2600 against the U.S. dollar compared with 82.2450 in the previous session and the range for the session is between 82.1500 to 82.4500.
Most Asian and emerging market peers have started this early Tuesday morning on a weaker note and will weigh on the rupee.
However, foreign portfolio investment flows into the domestic equity market could cap losses.
We expect British pound streling-INR, the euro-INR and the Japanese uen-INR spot pairs to move lower this early Tuesday morning trade.
The range for British pound sterling-INR is between 105.24 to 106.07, while that for euro-INR is between 90.09 to 91.05 and for Japanese yen-INR is between 57.20 to 58.75 this Tuesday.
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