Indian rupee weakened on Monday due to reduced expectations of US Federal Reserve rate cuts.
The Indian rupee weakened on Monday, tracking Asian peers and following reduced expectations of US Federal Reserve rate cuts. The decline in dollar-rupee forward premiums can be attributed to this, with the rupee trading at 83.4925 against the US dollar. The US labour market remained robust, reducing the likelihood of Fed rate cuts, and the dollar index rose accordingly.
June 10, 2024
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