Rupee under pressure

In last five weeks rupee appreciated by 5.90% on account of huge FII inflows and technical breakout. Now again rupee is under pressure but paused at a very important technical support at 44.19. If you refer the enclosed chart you'll be able to figure out that weekly close below this crucial support, will drag rupee to the lower levels around 42.20. This sudden rupee appreciation will not be healthy for exporters but definitely will be a good exit opportunity for exporter who are sitting short at a very lower levels.

Reference Link: Rupee Appreciation


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