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Indian Rupee Hits Record Low Against U.S. Dollar

2024-12-20 4558

(fxcue news) - The Indian rupee weakened against the U.S. dollar in the European session on Tuesday. India is the third-largest oil consumer in the world, so the modest increase in crude oil prices hurts the value of the Indian rupee. Meanwhile, the markets expect an intervention by the Reserve Bank of India (RBI) is likely to lessen the losses on the local currency. Trading remains muted in the run-up to Christmas. Regional markets will close early today and remain shut on Wednesday for Christmas. U.S. markets will also close earlier than usual for Christmas Eve and will remain shut on Wednesday. Against the U.S. dollar, the rupee fell to a new record low of 85.222 from an early high of 85.086. At yesterday's close, the rupee was trading at 85.095. If the rupee extends its downtrend, it is likely to find support around the 87.00 region.

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Indian Rupee Hits Record Low Against U.S. Dollar

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Indian Rupee Hits Record Low Against U.S. Dollar

Australian Market Slightly Higher

European Stocks Close Higher On Thin Volumes Ahead Of Christmas Holidays

Win Streak May Continue For Indonesia Stock Market

Bay Street May Open With Slightly Negative Bias; GDP

Swiss Franc Slides As European Shares Traded Higher

RBA Minutes: Australia GDP Remains Softer Than Expected

Indian Rupee Hits Record Low Against U.S. Dollar

Indian Rupee Hits Record Low Against U.S. Dollar

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Trader

Spot gold: buy long at 2616-10, stop loss at 7 points, target 28-36, look up in sequence;2632-38 short selling, stop loss of 7 points, target 16-10-06 stage open positions to gradually reduce positions. Let's take a look below;

Gold rebounds with a short selling range of 2635-2640, with a stop loss of 2649 and a target range of 2598-2600;

Crude oil, focus on resistance at $70.6-71.5 above and support at $69.3-68.5 below.

Today, the rebound in gold trading is mainly driven by short selling, supplemented by buying during a pullback. The short-term focus is on the resistance line of 2620-2625 above, and the short-term focus is on the support line of 2600-2598 below.

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

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Indian Rupee Hits Record Low Against U.S. Dollar

Australian Market Slightly Higher

European Stocks Close Higher On Thin Volumes Ahead Of Christmas Holidays

Win Streak May Continue For Indonesia Stock Market

Bay Street May Open With Slightly Negative Bias; GDP

Swiss Franc Slides As European Shares Traded Higher

RBA Minutes: Australia GDP Remains Softer Than Expected

Indian Rupee Hits Record Low Against U.S. Dollar

Indian Rupee Hits Record Low Against U.S. Dollar

Please sign in

Trader

Spot gold: buy long at 2616-10, stop loss at 7 points, target 28-36, look up in sequence;2632-38 short selling, stop loss of 7 points, target 16-10-06 stage open positions to gradually reduce positions. Let's take a look below;

Gold rebounds with a short selling range of 2635-2640, with a stop loss of 2649 and a target range of 2598-2600;

Crude oil, focus on resistance at $70.6-71.5 above and support at $69.3-68.5 below.

Today, the rebound in gold trading is mainly driven by short selling, supplemented by buying during a pullback. The short-term focus is on the resistance line of 2620-2625 above, and the short-term focus is on the support line of 2600-2598 below.

Buy more directly near the current gold price of 2617, with targets of 2642, 2650, and 2664; If three points of 2642, 2650, and 2664 are given for the first time, short selling is allowed; If you buy more in batches around three o'clock on 2614, 2611, and 2605;

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