Indian Rupee Strengthens Against The U.S. Dollar
The rupee strengthened by about 10 paise to close at 81.90 against the U.S. dollar.
The Indian rupee strengthened against the U.S. dollar on Thursday.
The local currency had appreciated by 5 paise to open at 81.95 against the greenback. Soon after, it gave up all its earlier gains to weaken against the U.S. dollar after the Reserve Bank of India's Monetary Policy Committee kept policy rates unchanged.
However, it quickly strengthened again and closed at 81.90, appreciating by about 10 paise against the U.S dollar.
It closed at 82 on Wednesday.
The Reserve Bank of India's Monetary Policy Committee voted unanimously to keep policy rate unchanged at 6.5%. The MPC voted five out of six to remain focused on the withdrawal of accommodation, said RBI Governor Shaktikanta Das.
"Supports for the dollar-rupee spot pair are at 81.7450 and 81.5800, and the resistances are at 82.1650 and 82.3300," said Reliance Securities Ltd.
However, the weakness seen in Asian currencies against the greenback would limit the gains in the rupee, the brokerage said.
