Rupee Declines as USDINR Holds Firm Ahead of GDP Data

The Indian rupee continues to weaken, tracking a broader decline in regional currencies. This week, the USDINR faced psychological 91.00 level resistance amid expectations of central bank intervention. However, risk-averse sentiment and robust dollar demand from importers continue to weigh on the local rupee. Ahead of today’s Q3 GDP release, the USDINR pair remained confined to a narrow trading range. The outlook remains bullish for the pair unless it can break 90.60, while 91.10 and 91.40 are expected to serve as immediate resistance levels.