Rupee Gains Ebb as Market Awaits RBI Rate Decision
The Indian rupee saw early gains fade on Monday as importer demand offset index rebalancing inflows. Markets now focus on the RBI rate decision this Friday.
Xurve View
Xurve View
The India rupee rose to 94.95 per dollar on Monday as early gains from equity-related inflows faded by midday. The currency retraced from a morning peak of 94.7375 after importer hedging demand offset initial dollar sales by foreign and state-run lenders. Rising volatility ahead of the RBI's policy decision this week signals investors expect the central bank's next move will shape rupee momentum.
