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Reliance Securities Report
From an intraday perspective, the Indian rupee could open flat to weaker against the dollar this Tuesday morning as the greenback and U.S. bond yields rose overnight and will weigh on the domestic unit.
Additionally, most emerging market and Asian peers have also started weaker dollar this Tuesday morning, and stronger crude oil prices will weigh on sentiments.
However, traders will look to cues from key central bank meetings this week starting with Bank of Japan today and Fed meeting tomorrow.
The non deliverable forward market is indicating that the rupee could open around 82.9200 to 82.9500 against the dollar compared with 82.9050 in the previous session and the range for the session remains between 82.8400 to 83.0400.
Amongst other domestic pairs, the euro-Indian rupee, the British pound-India rupee and the Japanses yen-Indian rupee could start in the red this Tuesday morning trade.
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