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The Indian rupee gave up some of its upward momentum on Friday, trading near 82.87 per U.S. dollar after its best day of the year. Dollar demand from oil companies and other importers, along with the Federal Reserve's reluctance to cut rates early, limited the gains.
Steady dollar demand from importers and higher U.S. yields cap rupee strength, so USD/INR is likely to stay firm near current levels.
reuters.comNimesh VoraFeb 23, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
