In spot, 75.75 will continue to act as an immediate support with 76.50 being the resistance, says Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.
Indian rupee is trading higher at 76.13 per dollar, amid buying seen in the domestic equity market.
Domestic unit opened flat at 76.17 per dollar against Friday's close of 76.19.
At 11:48 IST, the Sensex was up 144.30 points or 0.42% at 34876.03, and the Nifty was up 49.80 points or 0.49% at 10294.20.
Oil prices nudged higher on Monday on tighter supplies from major producers, but concerns that a record rise in global coronavirus cases could curb a recovery in fuel demand checked gains.
Gold prices rose on Monday to their highest in a month as surging coronavirus infections intensified concerns over a delay in global economic recovery and prompted investors to seek the safe-haven metal.
"Last week we saw a bullish trend in USD/INR spot and it breached 76.30 zone. The investors focus is basically swinging between coronavirus second pandemic wave and Indo-China border. And this uncertainty has acted to pause the major movement in USD/INR spot. However, the risk sentiments will remain on tenterhooks until there's a truce between India-China. In spot, 75.75 will continue to act as an immediate support with 76.50 being the resistance," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.Moneycontrol Ready Reckoner
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First Published on Jun 22, 2020 10:00 am
