ICICIdirect expects the US dollar to find resistance near 66.90-67. ''Utilise upsides in the USD/INR December contract to short. Sell USD/INR December futures in the range of 67.15-67.20 with target 66.70-66.60.''
The rupee fell against the US dollar today, marking its seventh straight weekly loss, as the greenback held high ahead of key central banks' policy decisions in the coming weeks. Clustered dollar outflows amid month-end importer demand also weighed on the local currency. The Indian currency ended the day at 66.75, depreciating almost 0.30% from the previous close of 66.55.
The dollar index moved above the 100 mark against six major currencies ended at 100.14, up 0.06% from the previous close of 100.08. In the currency futures market, the most traded dollar-rupee December contract on the NSE ended at 67.11. The December contract open interest was down marginally by 0.66% from the previous day. January contract open interest was up 13.77% from the previous day.