positive
Recently
Rupee set to open higher after Diwali break; focus on US-India trade deal newsflow
No Image
Rupee likely to start stronger post-holiday as US-India trade optimism and foreign buying support it.
The Indian rupee is poised to open stronger after the Diwali (Balipratipada) holiday, with morning quotes suggesting an opening range near INR 87.80-87.85 against the US dollar, compared with Monday’s close around INR 87.93. This strength is attributed to optimism around India-US trade negotiations. However, headwinds such as importer demand, RBI intervention and elevated oil prices continue to weigh. Foreign investors are net buyers in equities and bonds, which adds further support to the domestic currency.