The Indian Rupee has fallen by 10 paise following demand for the US Dollar from importers, despite the US currency’s overall decline. The US currency has weakened as risk sentiment improved on the back of positive economic data out of Europe and Asia.
Most Asian currencies have seen improvement after strong data out of China and record Yuan boosted investor sentiment in the region. The Rupee however failed to benefit after Indian shares took a tumble after being volatile o most of yesterday’s session, a situation that led to demand for the Dollar from custodian banks.
“The Rupee was closely tracking stocks and the Euro today. Later we also saw some oil bids in the market,” said A. Ajith Kumar, a foreign exchange dealer with Federal Bank.”The next key support for the Dollar/Rupee is at 54.05 while 54.15 will pose some resistance,” Kumar added, predicting a range of 53.90 to 54.25 for the rest of Thursday.
Current Indian Rupee (INR) Exchange Rates
The Euro to Indian Rupee (EUR/INR) exchange rate is currently trading at 71.3874
The US Dollar to Indian Rupee (USD/INR) exchange rate is currently trading at 54.2084
The Australian Dollar to Indian Rupee (AUD/INR) exchange rate is currently trading at 55.4980
The British Pound to Indian Rupee (GBP/INR) exchange rate is currently trading at 84.3217
The Indian Rupee to Euro (INR/EUR) exchange rate is currently trading at 0.0140
The Indian Rupee to US Dollar (INR/USD) exchange rate is currently trading at 0.0184
The Indian Rupee to British Pound (INR/GBP) exchange rate is currently trading at 0.0118
These exchange rates were correct as of 11:20 am
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