Rupee Set to Hold Steady on Inflows
The Indian rupee is expected to remain stable in subdued trading as central bank intervention and rising portfolio inflows counter ongoing hedging demand and firm oil prices. Overseas investors have net bought over 2.5 billion dollars in Indian stocks this month.
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The India rupee is poised for a subdued trading session on Tuesday, held in a tight band as central bank intervention offsets sustained corporate hedging demand. The currency settled at 95.7450 against the dollar on Monday, maintaining a tight range over the last two weeks. Persistent central bank defense has helped stabilize the currency despite ongoing pressures from elevated Brent Crude Oil prices.
