The Indian rupee advanced against the U.S. dollar in afternoon deals on Tuesday, amid broad dollar weakness following the U.S. President Barack Obama’s comments.
Speaking at the sidelines of G-7 summit, Obama told on Monday that strong dollar poses challenges to the economy, but the White House immediately denied it.
The rupee advanced to 63.865 against the greenback, compared to Monday’s closing value of 64.02. The next possible resistance for the rupee is seen around the 63.00 level.
The material has been provided by InstaForex Company – www.instaforex.com