USDINR
On Tuesday, USDINR likely to commence session between 82.20 – 82.30 levels as U.S. dollar steadied in early Asian session on rising optimism the U.S. banking turmoil could be contained.
The Indian government has received about 54 foreign direct investment proposals from China since last year that are pending for approval, said Finance Minister Nirmala Sitharaman.
Lawmakers belonging to India's main opposition Congress party wore black outfits, held placards that said "Save Democracy" and threw paper in parliament on Monday in protest against the disqualification of their leader Rahul Gandhi from the chambers.
USDINR TECHNICAL
Day Trend: - UPSIDE SELL
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 82.61 (82.44 – 82.28) 82.11
THE USA ECONOMY
News released early Monday that First Citizens agreed to acquire Silicon Valley Bank's deposits and loans has soothed market nerves surrounding the health of smaller U.S. banks.
U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell attempting to reassure the market that the U.S. banking system remained sound.
THE OIL
On Monday, Oil prices rose more than $3 as a halt to some exports from Iraq's Kurdistan region added to worries about oil supplies while a U.S. banking acquisition eased worries that financial turmoil could hurt the economy and curtail fuel demand.
Oil prices also drew support from worries of geopolitical turmoil after Russian President Vladimir Putin's plans to station tactical nuclear weapons in Belarus, one of Russia's most pronounced nuclear signals yet.
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