India in the last 24-hours reported the highest single-day spike in terms of fresh Covid-19 infections at over 1.7 lakh cases.
"Technically, resistance for USDINR Spot is 75.10-75.20 levels. The support is seen at 74.60-74.50 levels in the coming session. The US dollar
index is trading below $92.50 level, indicating a sideways momentum within the range $92.05-$92.55 levels. USDINR future could trade in a range of 75.00 -75.40 levels in today’s session," said Kshitij Purohit, Product Manager, Currency & Commodities at CapitalVia Global Research.
The dollar index, which tracks the greenback against a basket of six rivals, was little changed at 92.193 early in the Asian session, following a 0.9 per cent slump last week. It dipped below 92 on Thursday for the first time since March 23.
So, far in the month of April, foreign portfolio investors (FPIs) have withdrawn a net Rs 929 crore from Indian markets.
The reversal of buying trend came after FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January.
That apart, oil rose on Monday amid hopes that fuel demand is picking up in the United States as the summer driving season approaches and the rollout of Covid-19 vaccinations there accelerates, though increasing case numbers in other countries are set to cap gains. Brent was up 25 cents, or 0.4 per cent, at $63.20 a barrel.
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