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Rupee remains steady against US Dollar
The Indian rupee stayed pretty much unchanged at 85.92 against the US dollar on Tuesday, thanks to a softer dollar worldwide and cheaper crude oil.
Still, FII money moving out of India and ongoing uncertainty around India-US trade talks kept the rupee from gaining any real ground.
RBI likely to cut rates soon
Retail inflation in India dropped to just 2.1% in June—the lowest in six years—which could push the RBI toward cutting rates soon.
Wholesale inflation also slipped slightly as food and fuel got cheaper.
Meanwhile, even with shaky global conditions and Brent crude prices bouncing around, the Sensex managed to jump over 200 points for the day.