USD/INR Price News: Indian Rupee bears again retreat from 83.00 amid mixed markets – by anilpanchal7 USDINR Oil RiskAppetite Recession CentralBanks
prices. Also likely to weigh on the pair could be the recent easing in the Indian trade deficit.
Elsewhere, traders try hard to defend the 83.00 round figure and seemed to have weighed on the quote of late. Reuters quotes an anonymous trader from India as saying, “There will be ‘understandable hesitancy’ among traders with the psychological level of 83 nearby.” The news also adds that It will "take a lot" for the rupee to fall below 83 toward a record low.
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