Indian rupee dips to 95.7850 before RBI rate review
The Indian rupee closed lower on Thursday as traders awaited potential currency support measures from the central bank. Markets are monitoring possible tax cuts on foreign bond investments and new deposit schemes to boost inflows after the currency recently recovered from record lows.
The India rupee fell 0.08% to 95.7850 per United States dollar on Thursday as traders positioned for a central bank policy review. The decline extends a two-session retreat from Wednesday's close of 95.7050, pressured by weaker Asian peers and importer hedging. Investors expect the Reserve Bank of India (RBI) to introduce measures to support the currency following its recovery from a record low of 96.96 in mid-May.
