CAD/INR Trades Near ₹67.8131 Support as RBI Interventions Rise

The Canadian dollar (CAD) against the Indian rupee (INR) has seen a slight decline in trading, sitting at ₹68.1539.

This comes as India's foreign exchange reserves reached a record $740.80 billion in the same week, mostly due to over $136 billion in FCNR(B) deposits from banks under a special scheme that ended on August 31.

The Reserve Bank of India (RBI) now has enhanced capacity to intervene in support of the rupee and temper volatility in the CAD/INR exchange rate.

Technical analysis indicates bearish momentum as price tests short-term technicals, with the immediate resistance level at ₹68.6436 and the nearest support level at ₹67.8131.