Indian Rupee opened 70.93, Wednesday closed at 71.22 (0.22 percent lower), now trading at 71.10 (0.18 percent higher)
The US Federal Reserve didn't changed the interest rates as expected at 2.5 percent, the greenback shown dovish movement across the board. Despite this weaker Indian rupee cannot gain any.
Further to this, INR may come under further pressure Indian Government unveiling its interim budget for the 2019/20 fiscal year on Friday. Being a election year, the government may introduce some populist measures in interim budget.
Even exporters selling their earning of US currency, forex traders expect more foreign fund inflow will control surging crude oil prices.
Currently Rupee may touch 71.50 by tomorrow.
The US Federal Reserve didn't changed the interest rates as expected at 2.5 percent, the greenback shown dovish movement across the board. Despite this weaker Indian rupee cannot gain any.
Further to this, INR may come under further pressure Indian Government unveiling its interim budget for the 2019/20 fiscal year on Friday. Being a election year, the government may introduce some populist measures in interim budget.
Even exporters selling their earning of US currency, forex traders expect more foreign fund inflow will control surging crude oil prices.
Currently Rupee may touch 71.50 by tomorrow.
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| USDINR on 31st January 2019 |
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