Indian rupee slips as foreign bank dollar demand offsets broader greenback weakness

The rupee fell on Wednesday as foreign bank dollar bids offset a weaker greenback. Markets now await U.S. jobs data to gauge potential interest rate cuts.

洞察:
The rupee in India ININ slipped 0.1% to 90.70 per dollar on Wednesday after a pickup in dollar bids from foreign banks during afternoon trading. This late-session development exerted modest downward pressure on the local currency, altering intraday foreign exchange positioning just as markets awaited crucial economic data from the United States USUS.
A man counts money after withdrawing it from an automated teller machine (ATM) in New Delhi, India, April 3, 2025. REUTERS/Adnan Abidi
A man counts money after withdrawing it from an automated teller machine (ATM) in New Delhi, India, April 3, 2025. REUTERS/Adnan Abidi
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