Login ID:
Password:
Partner Login
Contact Us : 7066511911

Weekly: Weakness May Continue In Rupee On Widening Trade Deficit

17 Jun 2019 3:25 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 
MUMBAI (Commoditiescontrol) - Since June 4th rupee depreciated by about 80 paise and settled the week at 69.80 against the dollar.

Resistance is seen at 70.05 and above to rest 70.50 going forward.

Support I seen 69.5-69.35 and unlikely to appreciate further.

Rupee may weaken well above 70 in the near term on widening trade deficit, attack on crude oil tankers which may result in increase in crude oil prices. But on the comfort side is record forex reserves with RBI may not result in rupee depreciation beyond 71 going forward.

(By Commoditiescontrol Bureau)

N       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Top 5 News
USD/INR (Nov. 19) Bullish Breakout Confirmed Hold ...
USD/INR (Nov. 19) Bullish Breakout Confirmed Hold ...
Pigeon Pea (TUR) Spot (Mumbai INR) Bullish Primary Tr...
Pigeon Pea (TUR) Spot (BURMA USD) Close to a Bullish...
USD/INR (Nov. 19) Approaching Resistance Near 71.50 ...
Top 5 Market Commentary
Burma Tur Settles Weak In Mumbai
US Soybean Net Export Sales For Nov 1-7 Down 31% W/W At...
US Cotton Net Export Sales For Nov 1-7 Up Noticeably W/...
Sugar Prices Continue To Rule Steady In Mumbai
Rabi Crop Sowing 57.66% Up In Rajasthan Y/Y; Oilseed ac...
Copyright © CC Commodity Info Services LLP. All rights reserved.