Indian Rupee Set to Rally on New RBI Support Measures
The Indian rupee is expected to strengthen this week after the central bank introduced new measures to support the currency. Meanwhile, bond traders are preparing for upcoming inflation data releases.
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India's rupee is set to rally toward the 95.50-95.00 per dollar range following new Reserve Bank of India support measures. The currency fell 0.4% last week to close at 96.73 per dollar, approaching its record low of 96.96. The central bank's intervention aims to curb foreign investor anxiety over ongoing currency depreciation.
