Indian Rupee Faces Pressure Ahead of GDP Data
The Indian Rupee (INR) is facing continued pressure, nearing its all-time low as of Friday. The rising yields on US Treasury bonds and month-end demand for the US dollar (USD) have intensified selling pressure. Furthermore, the selling of domestic equities by Foreign Portfolio Investors (FPIs) is also impacting the INR’s performance. Investors should monitor the upcoming GDP data closely, as it could influence the next moves in the currency exchange rates. Understanding these dynamics is crucial for those involved in trading or investing in Indian markets.
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