Weekly USDINR Update : Rupee has a support at 78.50 levels Says Mr. Anuj Gupta, IIFL Securities
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Below is Weekly USDINR Update by Mr. Anuj Gupta, Vice President, IIFL Securities
Last week ruppe depreciated by 0.85%. It touched the record low levels of 79.1310 levels and closed at 78.97 levels.
Higher inflation and higher current account deficit, dollar demand were negative for the ruppee.
We are expecting that it may further depreciate to test 79.50 to 80 levels as global situation not looking promising.
Technically ruppee has a support at 78.50 levels and resistance at 79.80 levels.
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