Indian rupee expected to open flat as local flows offset dollar weakness

The rupee remains steady as local flows offset a weaker dollar. While equity inflows improve, traders expect the currency to hold within its current range.

洞察:
The Indian rupee is expected to open with a muted tone on February 10, as domestic factors prevent the currency from capitalizing on a weakening greenback and strength in regional markets. Despite a broader shift in global foreign exchange that would typically favor India ININ, local corporate hedging and other domestic flows are weighing on the valuation, keeping the 1-month non-deliverable forward within a narrow range of 90.72 to 90.76.
A man holds Indian currency notes inside a shop in New Delhi, India, April 3, 2025. REUTERS/Adnan Abidi
A man holds Indian currency notes inside a shop in New Delhi, India, April 3, 2025. REUTERS/Adnan Abidi
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