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  • Writer's picturefxmethods

USDINR OPENED AT 71.23/24


  • USDINR opened nearly at par @ 71.23/24 verses Yesterday Closed at 71.2125/2225 levels.

  • Early trade Rupee slip on Yesterday Terrorist attack as well as Oil Price well above Fibonacci support levels.

  • Nifty 50 and Sensex opened in red follow Asian indices.

INTRADAY RANGE - 70.86 ( 70.95 - 71.36 ) 71.62
  • On Thursday , Foreign Exchange market, the rupee opened lower at 70.89/90 and fell further to touch the day's low of 71.18.

  • The rupee weakened by 45 pips close at 71.2125 per US dollar amid firming crude oil prices and persistent foreign capital outflows.

  • On Wednesday, the rupee had ended 10 pips lower at 70.80.

  • The dollar weakened against the yen on Friday as dismal US retail sales data reinforced expectations Federal Reserve rates will not rise this year, while investor focus shifted to trade talks between Washington and Beijing.

  • Retail sales posted their largest decline since September 2009, US data showed on Thursday, a sign of weakness in the consumer sector, which accounts for more than two-thirds of the economy.

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