By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
News for IndiaNews for IndiaNews for India
  • Home
  • Posts
  • Search Page
  • About us
Reading: Traders eye key resistance for rupee as weak dollar boosts Asia FX | Stock Market News
Share
Font ResizerAa
News for IndiaNews for India
Font ResizerAa
  • Economics
  • Business
  • Home
  • Categories
    • Business
    • Economics
  • About us
  • Sitemap
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
News for India > Business > Traders eye key resistance for rupee as weak dollar boosts Asia FX | Stock Market News
Business

Traders eye key resistance for rupee as weak dollar boosts Asia FX | Stock Market News

Last updated: June 30, 2025 12:30 pm
1 month ago
Share
SHARE


MUMBAI, June 30 (Reuters) – The Indian rupee was little changed on Monday, with traders focusing on a key resistance level the currency would need to strengthen above to maintain its upward bias, while a broadly weaker dollar boosted other regional peers.

The rupee was at 85.52 per U.S. dollar, as of 12:20 p.m. IST, nearly unchanged from its close at 85.4750 on Friday.

Asian currencies were mostly higher with the Chinese yuan up 0.1% and hovering close to its strongest level since November last year, boosted by the Chinese central bank’s move to raise the daily reference rate to its strongest level in almost eight months.

The dollar index was last quoted a tad lower at 97.1, near its weakest level in over three years, as market optimism over U.S. trade deals bolstered bets for earlier Federal Reserve interest rate cuts.

Bolstered wagers on Fed rate cuts also helped boost dollar-rupee forward premiums with the 1-year implied yield up 2 basis points at 1.99%.

The rupee’s gains on Monday were, however, capped by broad based interbank dollar bids even as traders expect the Indian currency to trade with a slightly positive bias in the near term.

The 85.30-85.40 zone is key to watch for the rupee as dollar demand from state-run banks around those levels had capped the currency’s gains earlier in the month, a trader at a foreign bank said.

The trader also pointed out that the currency’s 200-day moving average, around 85.35, is also a key technical level to watch for the rupee.

India’s benchmark equity indexes were trading slightly in the red while the yield on the country’s benchmark 10-year bond was nearly flat. (Reporting by Jaspreet Kalra; Editing by Eileen Soreng)



Source link

You Might Also Like

Reliance Infra share price gains despite Indian stock market crash. Here’s why | Stock Market News

Sensex crashes over 600 points, extends losses to 6th consecutive week. Why is Indian stock market falling? EXPLAINED | Stock Market News

Upcoming IPO: Silver Consumer Electricals files DRHP for ₹1,400 crore offer | Stock Market News

Emerging-Market Asset Rally Stalls as Trade Tensions Resurface | Stock Market News

Nestle India to Federal Bank- Prashanth Tapse of Mehta Equities suggests stocks to buy in the short term | Stock Market News

TAGGED:Asian currenciesdollar demandFederal Reserve interest rate cutsIndian rupeeU.S. dollar
Share This Article
Facebook Twitter Email Print
Previous Article Global markets today: J-10 fighter jet maker Avic Chengdu share price surges 10% after Israel-Iran ceasefire | Stock Market News
Next Article RattanIndia Power share price jumps another 11%, rallies 35% in June. What’s powering the rally? | Stock Market News

We influence 20 million users and is the number one business and technology news network on the planet.

Find Us on Socials

News for IndiaNews for India
© Wealth Wave Designed by Preet Patel. All Rights Reserved.
  • BUSINESS