Indian Rupee Strengthens Against The U.S. Dollar

The Indian rupee strengthened against the greenback on Monday, aided by the pullback in the dollar index and U.S. yields amid an improved risk sentiment.

The local currency appreciated 17 paise to open at 81.80 against the greenback, according to Bloomberg. It closed at 81.97 on Friday, the strongest in a month since Feb. 3.

The rupee strengthened 5 paise to close at 81.92 today against the U.S. dollar.

"Supports for the USD-INR spot pair are at 81.65 and 81.35, resistances are at 82.25 and 82.55," said Reliance Securities Ltd.

"We suggest fresh selling in the pair around 82.20-82.35 with a stop loss of 82.66 for the target of 81.95-81.80," said Rahul Kalantri, vice president of commodities at Mehta Equities Ltd.