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Bloomberg Quint

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Image Credit: Bloomberg Quint

Rupee Ends Weaker Against US Dollar Ahead Of GDP Data Release

  • Rupee weakened against the US dollar, closing at 85.58 on Friday.
  • Market expects rupee appreciation on better-than-expected GDP figures and easing crude oil prices.
  • Factors like weak equity markets, muted foreign inflows, and crude oil price rebound pose concerns for India's trade deficit.
  • USDINR pair likely to remain in consolidation zone with resistance at 85.70-85.90 levels and strong support at 84.90-85.10 levels.

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