Economic TimesLean R·
Indian rupee snaps rising streak on hawkish Fed, oil rise
In the past week, the Indian rupee faced downward pressure due to escalating oil prices. Although foreign investments offered some relief, they were insufficient to trigger a notable rebound. The Reserve Bank of India is expected to step in to boost forex reserves when the rupee shows strength. Furthermore, India's trade deficit in merchandise hit a yearly peak, compounding the rupee's challenges.
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