Rupee edges up as markets eye Fed decision
The Indian rupee ticked up to 89.9775 against the US dollar on Tuesday morning, helped by foreign banks selling dollars and exporters hedging their bets.
While the rupee showed some strength, most Asian currencies were steady, and global markets stayed cautious with everyone waiting to see what the US Federal Reserve will announce about interest rates this week.
Markets stay cautious, all eyes on Fed
Indian stock markets slipped by 0.5%, echoing a careful mood across Asia as traders reacted to recent rupee swings by taking smaller positions and using tight stop-losses due to recent rupee volatility.
Ongoing trade talks between India and the US are also in focus, since any changes could impact where the rupee heads next.
Investors are watching closely—especially with a possible Fed rate cut expected soon that analysts anticipate could shift strategies around investing in India.