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29 Dec 2014
Indian Rupee trades near 13-month low
FXStreet (Mumbai) - The Indian rupee extended losses against the US dollar today to trade near 13-month low on year-end importer demand for the US dollar.
The USD/INR pair currently trades 0.02% lower at 63.64 levels; a shy away from 63.8850 levels reached on Dec 17. The INR has dropped almost 2.8% in the last three weeks as the strong data in the US has increased the likelihood of an early policy tightening in the US. The currency is currently trading around the weakest levels since November 2013.
USD/INR Technical Levels
The immediate resistance is seen at 63.69, followed by another resistance at 63.8850 levels. Meanwhile, support is seen at 63.52 and 63.40 levels.
The USD/INR pair currently trades 0.02% lower at 63.64 levels; a shy away from 63.8850 levels reached on Dec 17. The INR has dropped almost 2.8% in the last three weeks as the strong data in the US has increased the likelihood of an early policy tightening in the US. The currency is currently trading around the weakest levels since November 2013.
USD/INR Technical Levels
The immediate resistance is seen at 63.69, followed by another resistance at 63.8850 levels. Meanwhile, support is seen at 63.52 and 63.40 levels.