Rupee ends weaker against dollar on Friday
Indian rupee ended marginally weaker against dollar on Friday, due to demand for greenback by banks and importers. Sentiments remained dampened with Reserve Bank of India’s (RBI) latest survey stating that the Indian economy will gradually consolidate growth in the financial year 2017-18. It also reported that real gross domestic product (GDP) and real gross value added (GVA) are expected to increase by 7.4 percent and 7.2 percent, respectively, in the current fiscal and consolidate further by 40 basis points (bps) and 50 bps, respectively in the next fiscal. Besides, investors remained cautious ahead of key economic data -industrial production (IIP) and consumer price index (CPI) scheduled to be released on Monday. On the global front, pound took a battering on Friday after Prime Minister Theresa May's Conservative Party lost its parliamentary majority in elections, potentially disrupting Brexit negotiations.
USDINR (June)
Support at 64.25 and resistance at 64.55.
Close above 64.55 will take it to 64.70—64.85 and then to 65.00++ mark else could touch its support level of 64.30 mark.
Fresh selling can be initiated below 64.25 mark.
GBPINR
Hurdle at 82.40. Above 82.40 rally remain continue till 82.65---82.80 and then to 83.00++ mark.
Support intact at 82.10
EURINR
Above 72.40 rally remain continue till 72.60—72.75 and then to 72.85++ mark in days to come.
Support intact at 72.15
JPYINR
Support at 58.35 and Resistance at 58.50
Close above 58.50 will take it to 58.70—59.00++ mark in days to come else could touch its support level of 58.35 mark again.
Fresh selling can be initiated below 58.35 mark.
