USD/INR edges lower as Indian Rupee receives support from expected foreign inflows

The India n Rupee appreciates as India n bonds are scheduled to be included in J.P. Morgan’s Emerging Market Bond Index on June 28. Foreign investors have invested around $10 billion into the securities eligible to join J.P. Morgan’s index. US GDP Annualized is expected to show a slight increase of 1.4% from the previous growth of 1.3%. The India n Rupee recovers its recent losses on Thursday due to receiving support from the expectations of foreign inflows.

A break below this level could push the USD/INR pair toward the lower boundary of the broadening bottom at around 83.30. On the upside, resistance is expected at the upper boundary of the broadening formation at around 83.70, followed by the psychological level of 84.00. USD/INR: Daily Chart US Dollar price today The table below shows the percentage change of the US Dollar against listed major currencies today. The US Dollar was the weakest against the Australian Dollar.

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