Rupee And Bond Update - March 15, 2023: Reliance Securities
The rupee could open at around 82.2000 to 82.2200 compared with 82.4900 in the previous session.
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Reliance Securities Report
The Indian rupee could likely start flat to stronger against the dollar this Wednesday as risk appetite improves helped by an overnight jump in U.S. equities and recovery of Asian shares.
The local unit could also track gains in the non deliverable forward markets and weak start to the dollar index this Wednesday morning.
So, the rupee could open at around 82.2000 to 82.2200 compared with 82.4900 in the previous session.
Supports for the U.S. dollar-Indian rupee spot pair are at 82.1500 and 82.0500, resistances are at 82.5800 and 82.6700.
Most of the Asian peers have started stronger this Wednesday morning and will aid the local unit.
In the overseas markets, the U.S. dollar started weaker this Wednesday morning in Asian trade and further trend could be data dependent today, with U.S. Producer Price Index and retail sales data.
The euro, the sterling and the yen started marginally stronger this early Wednesday morning.
Indian bond yields are expected to rise in the early session on Wednesday tracking U.S. peers and rising expectations of another rate hike by Reserve Bank of India due to elevated domestic inflation
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