Rupee Steady: INR Opens Flat at 87.86 Against Dollar, Stays in Tight Range

The Indian rupee opened nearly flat at 87.86 to the US dollar in today’s session, echoing its previous close at 87.8450. Despite shifts in global markets, the currency held steady amid limited volatility, reflecting restrained activity as traders anticipate new signals from the Federal Reserve meeting and international commodity price swings.

Analysts note the rupee’s resilience was aided by RBI’s measured intervention and balanced liquidity conditions. FX players cite ongoing caution due to subdued dollar moves, with INR/USD support at 87.70 and resistance near 88.00.

Notable Updates:

Flat Opening: INR remained nearly unchanged after a stable previous close, mirroring muted global cues.​

Market Factors: RBI’s liquidity management and moderate dollar strength contribute to the rupee’s stability.​

Technical Levels: Support at 87.70, resistance at 88.00; trading expected in a narrow range barring surprises.​

Trader Strategy: Importers and exporters are watching the upcoming Fed policy meeting and crude movements for next cues.

Sources: Wise, Exchange-Rates.org, XE, Pound Sterling Live.