The Indian rupee gained in the early trade on Monday. It opened higher by 21 paise at 70.46 per dollar versus 70.67 Thursday. There is a major support of USDINR at 69.40 and it will respect this level and bounce back to the levels of 71.80 and 72.56. INR has under performed most of its EM peers in the last six months. This underperformance can be attributed to a concoction of worsening global and domestic factors. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-179961The Indian rupee gained in the early trade on Monday. It opened higher by 21 paise at 70.46 per dollar versus 70.67 Thursday. There is a major support of USDINR at 69.40 and it will respect this level and bounce back to the levels of 71.80 and 72.56. INR has under performed most of its EM peers in the last six months. This underperformance can be attributed to a concoction of worsening global and domestic factors. For More Information Please Visit : www.dollaradvisory.com and Call : +91 9111-179961
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