Rupee Awaits Boost From Inflows and Dollar Dip
The Indian rupee is expected to gain support from renewed foreign equity inflows and a slipping US dollar as midterm election results point to Democratic control of Congress. Foreign investors poured over one billion dollars into Indian shares over recent sessions.
The India rupee is set to recover on Wednesday, supported by surging equity inflows and a 0.3% drop in the dollar index. The currency was likely to open around 94.70, following a close of 94.74 on Tuesday.
