The Indian Rupee (INR) edges higher against the US Dollar (USD) at the start of the week. The USD/INR pair drops to near 88.25 after posting a fresh all-time high slightly above 88.50 on Friday. The pair retraced quickly from its all-time high, following likely intervention of the Reserve Bank of India (RBI) to support the Indian Rupee, according to a report from Reuters.
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Today USDINR gains ahead of India GST council meeting, US data
The Indian Rupee (INR) declines against the US Dollar (USD) on Wednesday. The USDINR pair rises to near 88.30 ahead of the two-day Goods and Services Tax (GST) council meeting on Wednesday, aiming to revise tax slabs from four to two.
Forex Tips USD/INR Spot Double Top 67.50 if No Cross or Hold Below 67 You will See Realx Game in Currency
Forex Tips: USD/INR exchange rate to find a new trading range, influenced by various economic factors.
The bank projects that the USD/INR rate could potentially reach approximately 84.40 in a gradual manner, although it also anticipates increased risks of retracement with every 0.5 unit change in the rate.