Indian rupee opens at 90.65 to US dollar
The Indian rupee opened at 90.65 to the US dollar on Wednesday, staying pretty stable thanks to likely interventions from the Reserve Bank of India.
With all the global market drama and geopolitical tension lately, the RBI seems to be working hard behind the scenes to keep things calm.
Traders are now waiting for key updates from the US
Traders are now waiting for key updates from the US Federal Reserve later today, which could shake things up.
The dollar is showing strength, and local importer demand was also seen, with corporates constantly buying the dollar since the current levels are deemed attractive.
But as Amit Pabari from CR Forex Advisory points out, this calm could change fast if global uncertainties grow or if changing expectations around US Federal Reserve policy or ongoing trade negotiations alter market sentiment.