Indian Rupee appreciated slightly to 84.07 against USD amid foreign fund outflows, expected to remain in 83.80-84.20 range.
The Indian Rupee (INR) appreciated slightly to 84.07 against the US Dollar (USD) on Monday amid significant foreign fund outflows. Traders expect it to remain in a narrow range of 83.80 to 84.20, influenced by a strong USD and potential support from domestic equities and weak crude oil prices. The Reserve Bank of India may intervene to stabilize the currency, which is under pressure due to ongoing foreign investment withdrawals.
October 28, 2024
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