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Rupee opens stronger at 87.65 against US dollar
The rupee opened a bit stronger at 87.65 against the US dollar on Wednesday, thanks to softer US inflation data that made the dollar lose some ground.
With US consumer prices barely rising, many now expect a Fed rate cut as soon as September, which is giving the rupee a little boost.
India's inflation hits an 8-year low
India's retail inflation just hit an eight-year low at 1.55% in July—mostly because food prices have been falling.
The Reserve Bank of India has also jumped in, selling $5 billion this month to help steady the rupee.
But experts say ongoing US tariffs could still make things tricky for the currency going forward.