The rupee recovered 41 paise from its all-time closing low to 96.45 against US dollar in early trade on Thursday, after US President Donald Trump indicated that negotiations with Iran were entering the final stages.
Investors are still gauging the geopolitical risk and oil price sensitivity in the background with any flare-up in the Middle East tensions or spikes in crude, forex traders said.
At the interbank foreign exchange market, the rupee opened at 96.25 against the US dollar, then touched 96.45 in early trade, up 41 paise from its all-time lifetime low of 96.86 against the US dollar on Wednesday.
On Wednesday, the rupee made a new low of 96.95 and later closed at 96.86 which was also a new closing low as demand for dollars continued with dollar index higher and crude oil prices remaining on the higher side near to USD 110 during the day.
“From a technical perspective, the 97.00 zone is expected to act as an immediate resistance area for USDINR, while support may emerge around​The rupee recovered 41 paise from its all-time closing low to 96.45 against US dollar in early trade on Thursday, after US President Donald Trump indicated that negotiations with Iran were entering the final stages.
Investors are still gauging the geopolitical risk and oil price sensitivity in the background with any flare-up in the Middle East tensions or spikes in crude, forex traders said.
At the interbank foreign exchange market, the rupee opened at 96.25 against the US dollar, then touched 96.45 in early trade, up 41 paise from its all-time lifetime low of 96.86 against the US dollar on Wednesday.
On Wednesday, the rupee made a new low of 96.95 and later closed at 96.86 which was also a new closing low as demand for dollars continued with dollar index higher and crude oil prices remaining on the higher side near to USD 110 during the day.
“From a technical perspective, the 97.00 zone is expected to act as an immediate resistance area for USDINR, while support may emerge around ​Latest News [ SOBAN NEWS: International and National ]
