USD/INR edges lower due to improved risk appetite, trading around 83.20 during the early European trading hours on Monday.
USD/INR continues to lose ground due to the improved risk appetite on Monday. The US Dollar faced a challenge as softer US inflation sparked speculation about the Fed’s rate cuts in this year. India n markets are closed as general elections are held in the financial capital, Mumbai. The subdued US Dollar has exerted downward pressure on the pair.
Bowman indicated that the decline in inflation observed in the latter half of last year was temporary and that there has been no further progress on inflation this year. In India, markets are closed as voting is held ingeneral elections in the financial capital Mumbai, and other states on Monday. This leaves limited room for the Reserve Bank of India to intervene in currency markets to influence the Indian National Rupee .
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