USDINR Falls as US Economic Data Disappoints; RBI Interventions Persist
The USDINR currency pair has faced downward pressure following a series of disappointing economic data releases from the United States. Recent indicators reveal weaker-than-expected job growth and sluggish industrial output, prompting traders to adjust their expectations regarding the US Federal Reserve’s monetary policy. In response to these economic signals, the Reserve Bank of India (RBI) has stepped up its interventions to stabilize the currency. This active involvement by the RBI aims to prevent excessive volatility in the currency market, ensuring the Indian Rupee maintains its strength amid the prevailing uncertainties. As the market reacts to new data, observers expect further fluctuations in the USDINR pair and are keenly monitoring developments from both the RBI and the Federal Reserve.